Eightteen years after purchasing shares in a mutual fund for $5700, the shares are sold for 11,100. the annual return is ___%
given data are
A=ending value= $11,100
P=Begining value =$ 5,700
&N=no. of years= 18
annual return is =[( A/P)^(1/N)]-1
= (11100/5700)^(1/18) -1
=(1.0377) - 1
=0.0377 ×100%
the annual return is =3.77 %
Eightteen years after purchasing shares in a mutual fund for $5700, the shares are sold for...
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