A Condominium Complex Was Purchased by a Group of Private

question 37

Multiple Choice

A condominium complex was purchased by a group of private investors for $1.3 million and sold 6 year(s) later for $3.4 million. Find the annual rate of return (compounded continuously) on their investment.

• A) 16.14% per year
• B) 16.18% per year
• C) 16.10% per year
• D) 16.06% per year
• E) 16.02% per year

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Definitions:

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