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Early last year, the Mary Growth Fund ran advertisements in the financial pages of major newspapers. The ad had primarily empty space containing the simple
Early last year, the Mary Growth Fund ran advertisements in the financial pages of major newspapers. The "ad" had primarily empty space containing the simple message:
$20,000 INVESTED IN MARYINVESTMENT GROWTH FUND ON DECEMBER 31, 1972
WOULD BE WORTH $5.70 MILLION ON DECEMBER 31, 2020
What annual rate of return did the fund realize over the period ending December 31 last year if interest was compounded annually? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%
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