Suppose that Kimberly invests $10,000, which grows at an effective rate of 8% for 3 years. For the next 2 years the investment grows at an effective rate of 11%, and then for the last 5 years it grows at only 5%. Taking the entire 10 years as a whole, what was the overall effective rate that she earned?

Answer rating: 100% (QA)

To solve this problem we can use the concept of the weighted average rate of return First lets calcu... View the full answer