Question
OneDecember, a101-year-old woman died and left $25 million to a university. This fortune was accumulated through shrewd and patient investment of a $ 4000 nest
OneDecember, a101-year-old woman died and left $25 million to a university. This fortune was accumulated through shrewd and patient investment of a $4000 nest egg over the course of 55 years. In turning $4000 into 25 million, what were the total and annualreturns? How did her annual return compare to the6.3% average annual return forstocks?
Her total return on the investment was________%
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
