A company 2

A company invests 51000. After 4 years of growth at the same rate each year, the investment is worth 68920. Find the annual growth rate as a percentage.

Correct answer:

p =  7.8186 %

Step-by-step explanation:

a=51000 b=68920  r=b/a=68920/510001.3514 n=4  r = kn  k=r1/n=41.35141.0782  p=100 (k1)=100 (1.07821)=7.8186%

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