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Eightteen years after purchasing shares in a mutual fund for $5700, the shares are sold for...

Eightteen years after purchasing shares in a mutual fund for $5700, the shares are sold for 11,100. the annual return is ___%

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Answer #1

given data are

A=ending value= $11,100

P=Begining value =$ 5,700

&N=no. of years= 18

annual return is =[( A/P)^(1/N)]-1

= (11100/5700)^(1/18) -1

=(1.0377) - 1

=0.0377 ×100%

the annual return is =3.77 %

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