A Condominium Complex Was Purchased by a Group of Private

question 182

Short Answer

A condominium complex was purchased by a group of private investors for $1.8 million and sold 6 year(s) later for $3.5 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.
__________%

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Definitions:

Secrecy

The act or practice of keeping information hidden or confidential, not to be shared or disclosed with unauthorized individuals.

Traditional Healing Practices

Methods of medical or therapeutic treatment rooted in long-standing cultural or community practices, often distinct from Western medicine.

Native American

Native American refers to a member of any of the indigenous peoples of the Americas, especially those living within the present-day United States.

Indigenous

Indigenous pertains to the original inhabitants of a region, often having distinct cultural, social, and historical identities from dominant societal groups.