Ten (10) years ago Bruce invested $1,000. Today, the investment is worth $3,250. If interest is compounded annually, what annual rate of return did Bruce earn on his investment? Do not round intermediate calculations. Round your answer to one decimal place.
Ten (10) years ago Bruce invested $1,000. Today, the investment is worth $3,250. If interest is compounded annually, what annual rate of return did Bruce earn on his investment? Do not round intermediate calculations. Round your answer to one decimal place.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 18PROB
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Ten (10) years ago Bruce invested $1,000. Today, the investment is worth $3,250. If interest is compounded annually, what annual
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