Question 165816
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 : 
r=(s/p)^1/n - 1 to find the 5 - year average annual return. 
R is determined by the initial investment P, the number of years n, and the amounts S that it is worth after n years.
P = 10,000

n = 2006 - 2001 = 5 years

s = 24,780

We are searching for the value of r.

Here is the formula:

r = (24,780/10,000)^1/6 - 1
r = (2.478)^(1/6) -1
r = 1.16328..- 1
rate = 0.16328
rate = 16.33 %
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Cheers,
Stan H.