please I want only the answer without the solution please
Correct Answer:
Rate of Return = 57.07%
Working note:
Let, rate of return = R
Future value after 5 years = 30000*((1+R)^5 - 1)/(R)
450000 = 30000*((1+R)^5 - 1)/(R)
At R = 57%
Future value at the end of 5 years = $449415.8
At R = 58%
Future value at the end of 5 years = $457581.7
AS per the method of extrapolation,
R = 57% + ((450000 - 449415.8)/(457581.7 - 449415.8))*(58% - 57%)
R = 57.07%
please I want only the answer without the solution please An ASE form planning for a...
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