Beginners luck earned you $1,500 at the Casino when you were 26 years old. You...

70.2K

Verified Solution

Question

Finance

Beginners luck earned you $1,500 at the Casino when you were 26 years old. You used the $1,500 to buy shares in a 3D printing start-up company, which are worth $57,785.58 today.

If you are 57 years old today, what is your average annual rate of return? (Hint, what is the annual compounded interest rate?)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students