Engineering Board Exam Reviewer · Rate of Return Analysis · easy
At what annual rate of return compounded annually will money double in 6 years?
- 16.67%
- 12.25%
- 11.55%
- 8%
Answer
B. 12.25%
Solution
2=(1+i)6 1+i=21/6=1.1225 i=12.25%.
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