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How do I process this in excel? I'm confused by the highlighted step. P0(1+r)n$35(1+r)5(1+r)5(1+r)=Pn=$56.38=1.610857143=51.610857143(1+r)rrr=1.1000474=1.10004741=0.1000474=10% Hence, the true annual rate of return is
How do I process this in excel? I'm confused by the highlighted step.
P0(1+r)n$35(1+r)5(1+r)5(1+r)=Pn=$56.38=1.610857143=51.610857143(1+r)rrr=1.1000474=1.10004741=0.1000474=10% Hence, the true annual rate of return isStep by Step Solution
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