After two consecutive years of 7% rates of return, what rate of return in the third year will produce a cumulative gain of 18%?Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%.Rate of return = 0.00 %0.0Enterx Cancel

Answered: After two consecutive years of 7% rates…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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After two consecutive years of 7% rates of return, what rate of return in the third year will produce a cumulative gain of 18%? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%. Rate of return= 0.00 % 0.0 Enter x Cancel