A Condominium Complex Was Purchased by a Group of Private

question 232

Short Answer

A condominium complex was purchased by a group of private investors for $1.4 million and sold 4 year(s) later for $3.1 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.
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__________%

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Definitions:

Drug

A substance that has a physiological effect when ingested or otherwise introduced into the body, often used for medicinal purposes.

Gamma Aminobutyric Acid (GABA)

A neurotransmitter in the brain that plays a key role in regulating neural excitability and anxiety.

Neurotransmitter

Chemicals in the nervous system that transmit signals across a synapse from one neuron to another, influencing various functions such as mood and behavior.

Alcohol

A psychoactive substance and depressant that is found in beverages such as beer, wine, and spirits, affecting the central nervous system.