A Condominium Complex Was Purchased by a Group of Private

question 182

Short Answer

A condominium complex was purchased by a group of private investors for $1.8 million and sold 6 year(s) later for $3.5 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.
__________%

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Definitions:

Eligible

Qualified or entitled to be chosen or to participate in something based on certain criteria or conditions.

Vacation Schedule

A plan or timetable allocating specific times for vacation or leave from work, often organized to ensure operational efficiency.

Reschedule

The act of arranging for an event, meeting, or appointment to take place at a different time than originally planned.

Team Meetings

Structured gatherings of team members aimed at discussing organizational goals, progress, and issues needing collective input.