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1) 11 years ago you purchased an investment for $1,253. You sold the entire investment today for $2,754. Given its riskiness, the expected return, E(r),
1) 11 years ago you purchased an investment for $1,253. You sold the entire investment today for $2,754. Given its riskiness, the expected return, E(r), on the investment was 4.78% when expressed as an EAR. Determine the annualized effective IRR for this investment. Express your answer as a PERCENT, not as a decimal, with at least 4 significant digits.
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