Calculate the annualised rate of return of an investment that, for an initial investment of £ 2900, produces a single payment of £4120 after 3 years, taxed at the rate of 10%. State your answer as a percentage to 3 significant figures. Do not type in the % sign after your answer. For example, if your answer is 5.23%, then type in 5.23 Answer:
Calculate the annualised rate of return of an investment that, for an initial investment of £ 2900, produces a single payment of £4120 after 3 years, taxed at the rate of 10%. State your answer as a percentage to 3 significant figures. Do not type in the % sign after your answer. For example, if your answer is 5.23%, then type in 5.23 Answer:
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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Transcribed Image Text:Calculate the annualised rate of return of an investment that, for an initial investment of £ 2900, produces a single payment of £4120 after 3 years, taxed at the
rate of 10%. State your answer as a percentage to 3 significant figures. Do not type in the % sign after your answer. For example, if your answer is 5.23%, then
type in 5.23
Answer:
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