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 the

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Question 330423: 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
the formula is:
r=(s/p)^1/n-1
Answer by nyc_function(2741) About Me  (Show Source):
You can put this solution on YOUR website!
r = (s/p)^(1/n-1)
Let s = 24,780
Let p = 10,000
Let n = 5
We are searching for r.
r = (24,780/10,000)^(1/5-1)
r = (2.478)^(1/4)
r = 1.2546579