Roderick is in 11th grade and wants to attend college to become a marine biologist. He knows he will need funds. What should he
2 answers:
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Answer:
annual compounded return = 4.73 %
so correct option is D) 4.73%
Explanation:
given data
present value = $25
future value = $100
time = 30 year
to find out
annual compounded return
solution
we get here annual compounded return that is express as
annual compounded return = ............1
here t is time period and FV is future value and PV is present value
so put here all value in equation 1 we get
annual compounded return =
annual compounded return = 0.047294
annual compounded return = 4.73 %
so correct option is D) 4.73%