Your grandfather invested $1,000 in a stock 36 years ago. Currently, the value of his account...
Your grandfather invested $1,000 in a stock 36 years ago. Currently, the value of his account is $318,000. What is his geometric return over this period? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
Homework Answers
| Investment | 1,000 |
| Current value | 318,000 |
| Time | 36 |
| 318000= | 1000*(1+r)^36 |
| 318000/1000= | (1+r)^36 |
| 318 | (1+r)^36 |
| 318^(1/36)= | 1+r |
| 1.173577743 | 1+r |
| r= | 0.173577743 |
| r= | 17.36% |
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