Rate of Return on Rishi's Investment
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Rishi Singh has $1,500 to invest. His investment counselor suggests an investment that pays no stated interest but will return $2,000 at the end of 3 years.
a) What annual rate of return will Rishi earn with this investment?
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Solution Summary
The solution determines the rate of return on Rishi's investment. The investment is compounded for 3 years.
Education
- BE, Bangalore University, India
- MS, University of Wisconsin-Madison
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