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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%

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 16P: If an asset declines in value from 5,000 to 3,500 over nine years, what is the mean annual growth...

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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%

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