Posted by **Leona** on Wednesday, January 24, 2007 at 11:22pm.

An investment today of $3,3OO is worth $10,000 IN 8 YEARS. At what rate has your investment been growing(annually) over the eight years ?

For compounding rate of return:

3300*(1+r)^8 = 10000.

so

(1+r)^8 = 10000/3300 = 3.0303

My calculator has a nth root button -- so 1+r=1.14864 so r=14.864%.

(without an nth root button, you can easily get there with successive approximations using something like an EXCL spreadsheet or a hand calculator).

## Answer This Question

## Related Questions

- math - what formulas do i use for this: Investments Suppose $10,000 is invested ...
- Finance - Your friend claims that he invested $5,000 seven years ago and that ...
- Finite Math - Juan invested $24,000 in a mutual fund 5 years ago. Today his ...
- Finite Math - Juan invested $24,000 in a mutual fund 5 years ago. Today his ...
- fnite math - Juan invested $24,000 in a mutual fund 5 years ago. Today his ...
- Finance - Walmart wishes to determine the rate of return of an investment made ...
- finance - An investment offers to pay you a $10,000 a year for five years. If it...
- Finance Help! 3 questions - Hi, i was wondering if someone could please help me ...
- Financial Math - An investment of $2500 accumulates at 6% p.a compounded semi ...
- Finance - Consider the following information and calculate the required rate of ...

More Related Questions