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31 December, 07:23

Sixty years ago, your mother invested $4,500. today, that investment is worth $430,065.11. what is the average annual rate of return she earned on this investment?

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  1. 31 December, 07:44
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    I = (430065.11/4500) ^ (1/60)) - 1=about 0.08*100=8%
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