Question

Anthony is asking you to invest in a venture that will double your money in 3 years. Compute the annual rate of return they are promising you?

Answer 1

I just answered a very similar question from Kim right below.

The method to solve this is the same, but you can make up your own numbers: say, 10,000 at the start and 20,000 at the end.

Answer 2

i understand the problem below but how is it related to this problem ...would this answer be 41.42%

Answer 3

Start with 10, finish with 20

after 1 year you have 10*x

after 2 years 10*x*x

after 3 years 10*x*x*x

10 x^3 = 20

x^3 = 2