Question 1152742
<br>
(a) The 9-year growth factor is the ratio of the final balance to the original balance:
{{{74000/44000}}} = 1.6818 to 4 decimal places<br>
(b) The 9-year percent change is the 9-year growth factor minus 1; converted to a percent:
{{{0.6818*100}}} = 68.18%<br>
(c) 1-year growth factor....  The 9-year growth factor is the 1-year growth factor, applied 9 times.  So the 1-year growth factor is the 9-year growth factor to the 1/9 power.
{{{1.6818^(1/9)}}} = 1.0595 to 4 decimal places<br>
(d) 1-year percent change -- see description above for 9-year percent change.
{{{0.0595*100}}} = 5.95%<br>