Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You deposited $113 into an account 19 years ago for an emergency fund. Today, that account is worth $135. What annual rate of return did

You deposited $113 into an account 19 years ago for an emergency fund. Today, that account is worth $135. What annual rate of return did you earn on this account? Compute no other deposits, no withdrawals, and annual compounding. Round your answer to FOUR decimal places. For example, if your answer is .2525 or 25.25%, your answer should be 0.2525

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Cpa Financial Accounting Examination Preparation Guide

Authors: Azhar Ul Haque Sario

1st Edition

979-8223666547

More Books

Students also viewed these Accounting questions

Question

1. Explain why talent management is important.

Answered: 1 week ago

Question

Explain the nature of human resource management.

Answered: 1 week ago

Question

Write a note on Quality circles.

Answered: 1 week ago

Question

Describe how to measure the quality of work life.

Answered: 1 week ago