A Condominium Complex Was Purchased by a Group of Private

question 158

Short Answer

A condominium complex was purchased by a group of private investors for $1.5 million and sold 7 year(s) later for $3.7 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.
Annual rate is __________% per year.

Calculate and understand the concept of the present value of future money.

Identify different views on competition and entrepreneurship in profit theories.

Relate the concept of usury laws to interest rates and their impact on borrowers and lenders.

Understand the economic and ethical arguments surrounding the rent of land.

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