The Vanguard Windsor II mutual fund had a net asset value of $15.07 at the beginning of 1992 and $24.04 at the beginning of 1997.What was the approximate average annual growth rate in this measure over this period? (Round to the nearest whole number)
A) 60%
B) 8%
C) 10%
D) 18%
E) 15%

Question

Quizplus · Accepted Answer

i = 11ea7fdb_fc26_121a_a768_f53da7f99861_TB2902_00 - 1
i = 11ea7fdb_fc26_121b_a768_2f031a1e1809_TB2902_00 - 1 = 9.79%
Using a financial calculator:
N = 5, PV = -15.07, PMT = 0, FV = 24.04, cpt I/Y = 9.79%

The Vanguard Windsor II Mutual Fund Had a Net Asset