SOLUTION: Top bond fund. An investment of $10,000 in the Emerging Country Debt Fund in 2001 was worth $24,780 in 2006 (www.money.com). Use the formula from the previous exercise to find t

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Question 204030This question is from textbook
: Top bond fund. An investment of $10,000 in the
Emerging Country Debt Fund in 2001 was worth $24,780
in 2006 (www.money.com). Use the formula from the
previous exercise to find the 5-year average annual
return.
using the equation: r=(s/p)^1/n-1
i really dont understand how to deal with these just yet still kind of confusing.
Thank you for your help! This question is from textbook

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Top bond fund. An investment of $10,000 in the
Emerging Country Debt Fund in 2001 was worth $24,780
in 2006 (www.money.com). Use the formula from the
previous exercise to find the 5-year average annual
return.
using the equation: r=(s/p)^1/n-1
---------
r = (24780/10000)^(1/(5-1)
---
r = 2.478T(1/4)
r = 1.2546...%
======================
I am assuming s = 24780 and p = 10000
======================
Cheers,
Stan H.