Calculate the annualised rate of return of an investment that, for an nitial investment of £ 3050, produces a single payment of £4120 after 3 years, taxed at the rate of
Calculate the annualised rate of return of an investment that, for an nitial investment of £ 3050, produces a single payment of £4120 after 3 years, taxed at the rate of
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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9
Transcribed Image Text:Calculate the annualised rate of
return of an investment that, for an
initial investment of £ 3050,
produces a single payment of £4120
after 3 years, taxed at the rate of
10%. State your answer as a
percentage to 3 significant figures.
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