Question
Asked Nov 14, 2019
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Find the annual growth rate of the quantity described below.

A stock portfolio drops to one-tenth its former value over a 3-year period.

Round your answer to two decimal places.

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Expert Answer

Step 1

Suppose initial amount is $100

then according to the question

Final amount after 3 year is 100/10 = $10

Step 2

Annual growth rate is...

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final value initial value Annual growth rate Where"t"is time in years

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