What annual rate of return is earned on a $5,000 investment when it grows to $9,500 in five years?
Answer to relevant QuestionsHow many years (and months) will it take $2 million to grow to $5 million with an annual interest rate of 7 percent? You invested $3,000 in the stock market one year ago. Today, the investment is valued at $3,750. What return did you earn? What return would you suffer next year for your investment to be valued at the original $3,000? ...Determine the interest rate earned on a $1,400 deposit when $1,800 is paid back in one year. Use the idea of compound interest to explain why EAR is larger than APR.What is the present value of a $700 annuity payment over six years if interest rates are 10 percent?
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