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a financial planner promises if you save $20,000 with him today, it will grow to $100,000 in 10 years assuming no withdrawals are made. what
a financial planner promises if you save $20,000 with him today, it will grow to $100,000 in 10 years assuming no withdrawals are made. what approximate annual rate of return is he promising? (hint: let PV = amount of initial investment and FV = promised future amount and t be how long it takes for the initial investment to turn into the promised future amount. then the implicitly promised annual rate of return = 10 ^log(FV/PV)/t - 1)
answers: 17.5%, 17.8%, 18.1%, 18.4%
pls help and thank you!!!
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