Asked by safaa
A fund increased 85% during the last 5 years. Find the annual compounded rate of increase
Answers
Answered by
Damon
1.85 = (1+r)^5
log 1.85 = 5 log(1+r)
use any base logs, base 10 or ln or whatever
log 1.85 = 5 log(1+r)
use any base logs, base 10 or ln or whatever
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