Homework Answers
Initial Numbers = 42445 and Final Numbers = 47038, Tenure = 2017 - 2013
Let the CAGR be r
Therefore, 42445 x (1+r)^(4) = 47038
r = [(47038/42445)^(1/4)-1] = 0.02602 or 2.602 % ~ 2.60%
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