(a) Explanation Given: The principal P is $1. The future value A is $14. The time period ‘ t’ is 14 years. Formula used: The formula for compound amount is, A = P ( 1 + i ) n , where i = r m and n = m t . Here, A is the future value, P is the principal, i is the interest rate per period, n is the number of compounding periods, m is the number of compounding periods per year, t is the number of years (b) To determine To find: The compound amount for the given data.

Finite Mathematics and Calculus with Applications

1st Edition

ISBN: 9781323188361

Author: Margaret Lial

Publisher: Pearson Education

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Question

Chapter 5.1, Problem 79E

(a)

To determine

To find: The rate of return that would turn $1 to $14.

(b)

To determine

To find: The compound amount for the given data.

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Chapter 5.1, Problem 78E

Chapter 5.1, Problem 80E

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Finite Mathematics and Calculus with Applications

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The rate of return that would turn $1 to $14.

Solution Summary: The author explains that the rate of return of Bain capital is 113%. The principal amount is 1 million that is compounded annually.