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
Correct Answer:
Verified
Correct Answer:
Verified
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