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Your investment advisor is promising to double your money in 8 years. Basically, he said that...

  1. Your investment advisor is promising to double your money in 8 years. Basically, he said that for every $1 you invest with him, he can turn that into $2 eight years later. What is the rate of return on this investment?
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Answer #1

the rate of return is the same as compound interest rate, and that is 9.05%

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