After two consecutive years of 7% rates of return, what rate of return in the third year will produce a cumulative gain of 18%? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%. Rate of return= 0.00 % 0.0 Enter x Cancel

Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter23: Basic Calculations Of Percentages, Percents, And Rates
Section: Chapter Questions
Problem 67A
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After two consecutive years of 7% rates of return, what rate of return in the third year will produce a cumulative gain of 18%?
Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%.
Rate of return = 0.00 %
0.0
Enter
x Cancel
Transcribed Image Text:After two consecutive years of 7% rates of return, what rate of return in the third year will produce a cumulative gain of 18%? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%. Rate of return = 0.00 % 0.0 Enter x Cancel
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