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
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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9
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa2530009-7eab-4128-b39d-7ebd062855cb%2F755dc839-4539-4019-bf0b-3b46154f5e44%2Favk456q_processed.jpeg&w=3840&q=75)
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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