An investor places $30,000 into a stock fund. 10 years later the account has a value of
Question:
An investor places $30,000 into a stock fund. 10 years later the account has a value of $69,000. Using logarithms and anti-logarithms, present a formula for calculating the average annual rate of increase. Then use your formula to determine the average annual growth rate for this fund.
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An exponential growth model can be used to represent this scenario which can be written in mathemati...View the full answer
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Related Book For 
Practical Introduction To Data Structures And Algorithm Analysis Java Edition
ISBN: 9780136609117
1st Edition
Authors: Clifford A. Shaffer
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