SOLUTION: A $50,000 deposit that yields a return of $400,000 after 16 years. What is the interest rate?
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Question 976075: A $50,000 deposit that yields a return of $400,000 after 16 years. What is the interest rate?
Answer by FrankM(1040) (Show Source): You can put this solution on YOUR website!
The annual rate is the 16th root of 8 (400K/50K)
or 13.88%
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