Question 1092962: What annual rate of return is earned on a $4,000 investment made in year 6 when it grows to $6,200 by the end of year 10?
I came uo with 4.441 but it is not correct
Found 2 solutions by josmiceli, MathTherapy:
Answer by josmiceli(19441)   (Show Source):
Answer by MathTherapy(10557)  (Show Source):
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What annual rate of return is earned on a $4,000 investment made in year 6 when it grows to $6,200 by the end of year 10?
I came uo with 4.441 but it is not correct
To get a correct answer, you need to be much, much clearer.
For one, are you saying that the investment was made in year 6 and went into year 10? If so, that's a time of 4 (10 - 6) years.
Furthermore, what's the ANNUAL compounding period?
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