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2006-10-22 17:05:31 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
The answer is 5.99%
(annual growth rate is usually expressed by a percentage, not a set amount)
1000x^4 = 1262
x^4 = 1.262
1.262^(1/4) = 1.0599 (rounding up, 6%)
You can check your work by multiplying 1000 x 1.0599^4 = 1262
2006-10-22 17:15:50 · answer #1 · answered by Erin N 1 · 2⤊ 0⤋
Your annual growth rate is 6%. Best illustrated by Erin. It sounds like a math problem in arithmetic.
2006-10-22 17:30:45 · answer #2 · answered by T T 1 · 0⤊ 0⤋
find the difference between the prices (262 dollars), then divide by the amount of time needed (4 years...so divide 262 by 4 and you get $65.50).
2006-10-22 17:13:00 · answer #3 · answered by SideWinderGX 2 · 0⤊ 0⤋
you have to be kiding this is so easy!!
take 262 which is the profit and divide it by 4 = $65.50 per year
Keep on YAHOOING!!
~~SPARKY~~~
2006-10-22 17:19:00 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Erin is the only one that's right so far.
2006-10-22 17:25:25 · answer #5 · answered by mash220202 2 · 0⤊ 0⤋
$65.50?
2006-10-22 17:07:37 · answer #6 · answered by mullet3k 2 · 0⤊ 0⤋