You invest $4200 for a period of 7 years. At the end of 7 years your investment has grown to $7200. What is the annual rate of return on this investment? O a. 6.18% O b. 10.20% O c. 8.00% O d. 71.43%
You invest $4200 for a period of 7 years. At the end of 7 years your investment has grown to $7200. What is the annual rate of return on this investment? O a. 6.18% O b. 10.20% O c. 8.00% O d. 71.43%
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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![You invest $4200 for a period of 7 years. At the end of 7 years your investment has grown to
$7200. What is the annual rate of return on this investment?
O a. 6.18%
b. 10.20%
O c. 8.00%
O d. 71.43%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe45a1742-1d5f-45f8-b1d5-bd8f3df2a6e2%2Ff22d2f87-e603-4d6e-bf2c-84436f6e4676%2F7zok30o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You invest $4200 for a period of 7 years. At the end of 7 years your investment has grown to
$7200. What is the annual rate of return on this investment?
O a. 6.18%
b. 10.20%
O c. 8.00%
O d. 71.43%
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