A Condominium Complex Was Purchased by a Group of Private

question 19

Multiple Choice

A condominium complex was purchased by a group of private investors for $1.3 million and sold 7 year(s) later for $3.9 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to two decimal places. ​

• A) 15.67% per year
• B) 15.63% per year
• C) 15.69% per year
• D) 15.61% per year
• E) 15.65% per year

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