An investment doubles in value over 8 years. What was the annual compound rate of return? a) 9% b) 12% c) 8% d) 15%

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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An investment doubles in value over 8
years. What was the annual compound
rate of return?
a) 9%
b) 12%
c) 8%
d) 15%
Transcribed Image Text:An investment doubles in value over 8 years. What was the annual compound rate of return? a) 9% b) 12% c) 8% d) 15%
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