q 22 thanks! In an account that earns 11% interested, compounded annually, whatis the percentage change in the balance over any 5-year period?ANSWER:Do not include the %-sign in the answer box. Just a number. Roundyour percentage to two digits after the decimal. For example, if youobtain a proportionate change of 0.3456, then the percentagechange is 34.56% and you should enter 34.56.

Let 100 be the initial investment

Answered: In an account that earns 11%…

In an account that earns 11% interested, compounded annually, what is the percentage change in the balance over any 5-year period?

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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