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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%

Correct Answer:

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