Homework Answers
Number of years = 2016 - 2012 = 4
Rate of return = (Future value / initial value)1/n - 1
Rate of return = (10,321,500 / 12,372,500)1/4 - 1
Rate of return = (0.834229)1/4 - 1
Rate of return = 0.955699 - 1
Rate of return = -0.0443 or -4.43%
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