Answer:
TRUE
Explanation:
as the growth rate follows the law of compounding it will be applied to the increases and then over the icnrease of the increases and so on. Giving a higher grow than 100% if 10 per year is applied:
[tex]Principal \: (1+ r)^{time} = Amount[/tex]
Principal $1.00 earnings
time 10.00 years
growth rate 10% = 10/100 = 0.10000
[tex]1 \: (1+ 0.1)^{10} = Amount[/tex]
Amount 2.59
This will be a grow of 2.59 - 1 = 1.59 = 159% which isn't the 100% percent growth the company actually had
