SOLUTION: An investment of $10,000 in 1997 in the Spartan Investment Grade Bond Fund grew to $14,309.61 in 2002. Use the formula r = (S/P)^1/n -1 to find the 5-year average annual return.
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Question 62054: An investment of $10,000 in 1997 in the Spartan Investment Grade Bond Fund grew to $14,309.61 in 2002. Use the formula r = (S/P)^1/n -1 to find the 5-year average annual return. 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 r = (S/P)^1/n -1 to find the 5-year average annual return.
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r = (S/P)^1/n -1
r = (14309.61/10000)^(1/5) - 1
r= = 1.0742908... - 1
r= 0.074
r = 7.4%
Cheers,
Stan H.
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