Question
Four years ago, your autograph collection was worth $1,200. You have not added any autographs to...
Four years ago, your autograph collection was worth $1,200. You have not added any autographs to the collection over the past four years, but the collection has still increased in value. Today, it is worth $1,500. What rate of return are you earning on this collection?
Homework Answers
Answer #2
We know the compound interest formula:
Where,
A = Value at the end of the period
P = Value at the beginning
n = Number of years
i = rate of return
Therefore,
OR
answered by: anonymous
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