SOLUTION: Ok so on this one it gives me a formula but I have no clue how to use it. I would love it if someone would help me. You guys are awesome. Thank you in advance!!!!!
An investm
Algebra.Com
Question 110464This question is from textbook university of Phoenix Elementary and Intermediate Algebra
: Ok so on this one it gives me a formula but I have no clue how to use it. I would love it if someone would help me. You guys are awesome. Thank you in advance!!!!!
An investment of $10,000 in 1997 in the spartan investment grade bond fund grew to $14,309.61 in 2002. Use the formula from the previous exercise to find the 5-year average annual return.
formula: r=(s/p)^1/n -1
This question is from textbook university of Phoenix Elementary and Intermediate Algebra
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
An investment of $10,000 in 1997 in the spartan investment grade bond fund grew to $14,309.61 in 2002. Use the formula from the previous exercise to find the 5-year average annual return.
formula: r=[(s/p)^(1/(n-1)]
r = [(14309.61/10,000)^(1/4)
r = 1.0937...
=============
Cheers,
Stan H.
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