SOLUTION: 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

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Question 251530: 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. Formula to use is r=(s/p) ^1/n-1

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
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. Formula to use is r=(s/p) ^1/n-1
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r = (24,780/10,000)^(1/4)
r = 1.2547..
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Cheers,
Stan H.