Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

Eight ( 8 ) years ago Bruce invested $ 1 , 9 0 0 . Today, the investment is worth $ 4 , 0 0

Eight

(8)

years ago Bruce invested $

1, 900 .

Today, the investment is worth $

4, 000 .

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.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Extreme Events In Finance A Handbook Of Extreme Value Theory And Its Applications

Authors: Francois Longin

1st Edition

1118650190, 978-1118650196

More Books

Students also viewed these Finance questions

Question

★★★★★

What is the basic relationship between the amount of risk associated with a project and the likelihood of gains (or losses) on the project? Explain how several financial instruments (GICs, common...

Answered: 1 week ago

Question

★★★★★

Please provide a short definition of the following terms along with an example of each. a. GAAP: b. P&L Statement c. EBITDA d. COGS

Answered: 1 week ago

Question

★★★★★

2. Do you think that situation-specific selfconfidence developed in one sport situation can be transferred to another situation or even to global self-confidence? Explain and defend your response.

Answered: 1 week ago

Question

★★★★★

Two alternatives are as follows: If 5% is considered the minimum attractive rate of return, which alternative should be selected? Year A B -$2000 -$2800 +800 +1100 23 +800 +1100 A +800 +1100

Answered: 1 week ago

Question

★★★★★

Multiplication and division with exp Simplify. Express your ansi (q^(6)r)/(qr^(4)*q^(5)r^(-4))=q^(-7)r^(8)

Answered: 1 week ago

Question

★★★★★

According to the 68-95-99.7 rule what percent of the population are between 1 standard deviation below the mean and 2 standard deviations above the mean?

Answered: 1 week ago

Question

★★★★★

SECTION 2 READING STUDY GUIDE Economic Choice Today: Opportunity Cost Before You Learned The economic problem of scarcity guides economists to ask and answer basic questions about the economy. Now...

Answered: 1 week ago

Question

★★★★★

Which of the following statements is not true regarding incremental and iterative development approaches? A) Both incremental and iterative approaches are used in adaptive projects. B) Both...

Answered: 1 week ago

Question

★★★★★

A merchant obtains the retail price of an item by adding 20% to the wholesale price. Later, he has a sale and marks every item down 20% from the retail price. Is the sale price the same as the...

Answered: 1 week ago

Question

★★★★★

One gallon equals 4 quarts. The following program intends to read a floating-point value from input, convert the value from quarts to gallons, and output the volume in gallons, but the code contains...

Answered: 1 week ago

Question

★★★★★

Cash $ 120,000 Accounts receivable 48,000 Maintenance expense 22,000 Advertising expense 17,360 Fees earned 128,800 Lisa Assaad, Capital, April 1 ? Salaries expense 61,000 Machinery 93,000 Accounts...

Answered: 1 week ago

Question

★★★★★

Premium refund checks will be issued; new premium rates will be prorated and applied as payroll deductions starting June 1.Prepare an appropriate request approval letter to be sent to each employee...

Answered: 1 week ago

Question

★★★★★

Carl Bott, a systems analyst in your department, has requested approval to take a three-week leave without pay immediately following his two-week paid vacation in February. Carl and his brother want...

Answered: 1 week ago

Question

★★★★★

Technology. When you took the first can from the 12-pack of ReFresh Lemon Zest soda you bought yesterday, you knew something was wrong.You couldnt see any damage, but it was obvious the can was not...

Answered: 1 week ago

Previous Question Next Question