Asked by Andrea Morel on Apr 26, 2024
Verified
What was the annually compounded nominal rate of growth if the future value of $1,000 after 20 years was $2321.06?
Annually Compounded
An interest rate compound method where the calculation of interest is done once per year.
- Ascertain the compounded annual growth percentage of an investment.
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SH
Learning Objectives
- Ascertain the compounded annual growth percentage of an investment.