SOLUTION: Hello. I think this problem is dealing with linear equations and slope. It would help if you could explain step by step what needs to be done and set up the equation with the answe

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Question 31863: Hello. I think this problem is dealing with linear equations and slope. It would help if you could explain step by step what needs to be done and set up the equation with the answer. Please help me! Thanks! ** A small business predicts sales according to a straight-line method. If sales were $50,000 in the first year and $110,000 in the third year, find the rate of growth in dollars per year.**
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You have two points:
(1,50,000) and (3,110,000)
rate of growth in years = (change in value)/(# of years)
=[110,000-50,000]/[3-1]
=60,000/2
=$30,000/ yr
Cheers,
stan H.