A Condominium Complex Was Purchased by a Group of Private

Multiple Choice

A condominium complex was purchased by a group of private investors for $1.3 million and sold 7 year(s) later for $3.9 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to two decimal places. ​

A) 15.67% per year
B) 15.63% per year
C) 15.69% per year
D) 15.61% per year
E) 15.65% per year