- The annual rate of return of the investment that doubled in 15 years is 4.7%.
- The annual rate of return of the investment that doubled in 8 years is 9 years.
- The annual rate of return of the investment that doubled in 20 years is 3.52%.
- The number of years it would take the investment to double is 9.97 years.
<h3>What are the annual rate of return?</h3>
The formula that can be used to determine the annual rate of return is:
g = (Future value / present value)^(1 / number of years) - 1
2^(1/15) - 1 = 4.7%
(1600 / 800) ^(1/8) - 1 = 9%
(200,00 / 100,000)^(1/20) - 1 = 3.52%
Number of years = (In FV / PV) / r
Where:
- FV = future value
- PV = present value
- r = interest rate
IN2 / 0.0695 = 9.97 years
To learn more about number of years, please check: brainly.com/question/21841217
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