A condominium complex was purchased by a group of private investors for $1.3 million and sold 6 year(s) later for $3.8 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.

Annual rate is __________% per year.

Question

A condominium complex was purchased by a group of private investors for $1.3 million and sold 6 year(s) later for $3.8 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.
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Annual rate is __________% per year.

Quizplus · Accepted Answer

The Answer of A condominium complex was purchased by a group of private investors for $1.3 million and sold 6 year(s) later for $3.8 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to the nearest hundredth.
​
Annual rate is __________% per year.

A Condominium Complex Was Purchased by a Group of Private