Annual Growth Rate One measurement of the quality of a mutual fund is its average annual growth rate over the last 10 years. The function expresses the average annual growth rate r as a function of the present value P of an investment of $10,000 made 10 years ago. An investment of $10,000 in Fidelity’s Contrafund in 1995 was worth $36,555 in 2005 (Fidelity Investments, www.fidelity.com). What was the annual growth rate for that period? Write P as a function of r.
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