What annual rate of return did have to earn


Your friend claims that he invested $5,000 seven years ago and that this investment is worth $38,700 today. For this to be true, what annual rate of return did he have to earn? Assume the interest compounds annually.

Solution Preview :

Prepared by a verified Expert
Finance Basics: What annual rate of return did have to earn
Reference No:- TGS0559301

Now Priced at $5 (50% Discount)

Recommended (99%)

Rated (4.3/5)