Answer using the geomean function in excel, please. Thank you!

C15 fic M B C D E F G H K 1 16. If an asset declines in value from $5,000 to $3,500 over nine years, what is the mean annual growth rate in the asset's 2 3 value over these nine years? 4 5 First find the overall growth factor 6 Initial investment * growth factor = final investment 7 So the growth factor = final investment/initial investment 8 Second, find geomean 9 And geometric mean = executing the GEOMEAN formula over a series of growth factor over 9 years. 10 Geometric mean = Growth factor where n = 9 years Note: in Excel the formula for nth root is number ^(1) 11 Third, find the annual growth rate interest rate) 12 Annual growth rate = geomean - 1 (in decimal) 13 14 Watch the video if you need help with this question. 15 Rubric 16 Overall Growth Factor 1. Overall Growth Factor --- 1 pts 17 Initial investment final investment Growth factor = final/initial 2. Geometric mean --- 2 pts 18 $5,000 $3,500 0.7 3. Annual growth rate --- 2 pts 19 20 Geometric mean is 21 22 Annual growth rate = Geometric mean - 1 23 in decimal in percentage 24 25 26