FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

37 years ago your parents invested $22,600 in an investment account. There is now $62,000 in the account. What was your parents' effective annual rate

37 years ago your parents invested $22,600 in an investment account. There is now $62,000 in the account. What was your parents' effective annual rate of return? Your answer should be shown as a percentage and it should be accurate to two decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Governance And Finance Of Metropolitan Areas In Federal Systems

Governance And Finance Of Metropolitan Areas In Federal Systems

Authors: Enid Slack, Rupak Chattopadhyay

1st Edition

0199008973, 9780199008971

More Books

Students also viewed these Finance questions

Question

★★★★★
Analysts estimate that the expansion of the capacity of the criminal courts in a city would require about 7,200 additional hours of juror time. The average wage rate in the county is $15/hour. A...

Answered: 1 week ago

Question

★★★★★
How does computer handles images, audios and video files

Answered: 1 week ago

Question

★★★★★
What activities would be required from a buyer to get to zero-defect deliveries from suppliers?

Answered: 1 week ago

Question

★★★★★
Colt Company owns a machine that can produce two specialized products. Production time for Product TLX is two units per hour and for Product MTV is five units per hour. The machines capacity is 2,750...

Answered: 1 week ago

Question

★★★★★
37 years ago your parents invested $22,600 in an investment account. There is now $62,000 in the account. What was your parents' effective annual rate of return? Your answer should be shown as a...

Answered: 1 week ago

Question

★★★★★
Determine the P-value. State the final conclusion that addresses the original claim. Listed below are the lead concentrations in g/g measured in different traditional medicines. Use a 0.01...

Answered: 1 week ago

Question

★★★★★
Which action would improve the asset conversion cycle? A successful marketing campaign that increases sales volume. Renegotiating with suppliers to increase the credit period on supplier payments. A...

Answered: 1 week ago

Question

★★★★★
You are presented with the following alphabetical list of items, selected from the financial statements of Saputo Inc.: For Tach of the below accounts, identify the following: (a) (b) (c) the type of...

Answered: 1 week ago

Question

★★★★★
"When in Rome, do as the Romans do" is an example of which "ethical trap"? O a. Cultural relativism Ob. Just distribution O c. The Friedman Doctrine O d. Moral expediency O e. Rights theory A a. 's...

Answered: 1 week ago

Question

★★★★★
Exercise 12-6 (Algo) Indirect: Cash flows from operating activities LO P2 Salud Company reports the following information. Selected Annual Income Statement Data Net income Depreciation expense Gain...

Answered: 1 week ago

Question

★★★★★
Shine Ltd incurred the following development costs in the last two years: Cost incurred $'000 Current year 2024 27,000 Prior year 2023 11,000 In the prior year, the criteria for capitalisation were...

Answered: 1 week ago

Previous Question Next Question