A Condominium Complex Was Purchased by a Group of Private

question 175

Multiple Choice

A condominium complex was purchased by a group of private investors for $1.5 million and sold 5 year(s) later for $3.7 million. Find the annual rate of return (compounded continuously) on their investment.

• A) 18.06%
• B) 18.47%
• C) 18.90%
• D) 18.19%