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The average annual return r for an investment

by | Dec 1, 2023 | Posted Questions

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The average annual return r for an investment is given by
the following formula.

r=(s/p)^1/n – 1,

where P is the initial investment and S is the amount it is
worth after n years. An investment of $ 10,000 in 1999 in the Shroeder Ultra
Investors Fund was worth $20,130 in 2002. Find the 3 year average annual
return.

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