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business/math

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please answer:a portfolio had an original value of $8500 eight years ag.the current value of the portfolio is $45389.what is the average geometric return on this portfolio?

urgent response need please

  • business/math - ,

    not sure what you mean by "average geometric return", do you want the average compound interest rate?
    if so...

    45389 = 8500(1+i)^8
    5.3398824 = (1+i)^8
    1+i = 1.23938
    i = .23938 = 23.938%

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