Mr. Parvez invested Tk. 2850 in a startup. The business increased in value by 4% in the first year, decreased by 2% in the second year, and continued to increase by 7% from the third year onward. a) What was the average growth rate of the startup over the first 3 years? b) What will be the value of Mr. Parvez’s investment after 6 years?
Mr. Parvez invested Tk. 2850 in a startup. The business increased in value by 4% in the first year, decreased by 2% in the second year, and continued to increase by 7% from the third year onward. a) What was the average growth rate of the startup over the first 3 years? b) What will be the value of Mr. Parvez’s investment after 6 years?
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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Mr. Parvez invested Tk. 2850 in a startup. The business increased in value by 4% in the first year, decreased by 2% in the second year, and continued to increase by 7% from the third year onward.
a) What was the average growth rate of the startup over the first 3 years?
b) What will be the value of Mr. Parvez’s investment after 6 years?
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