SOLUTION: I need ur urgent help on this finance question. an investor expects the value of a $1000 investment to triple within 12 years. what is the expected annual rate of growth in the

Question 881280: I need ur urgent help on this finance question.
an investor expects the value of a $1000 investment to triple within 12 years. what is the expected annual rate of growth in the investment
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Initial investment = $1,000
In 12 years the investment becomes $3,000

where is the annual rate of return

Take the log of both sides

The annual percentage rate is 9.59%
check:

looks close enough

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