15. Your portfolio increased its value in 10% in 2020, 15% in 2021 and 22% and 2022. What was the average annual rate of increase for the 3-year period?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
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15. Your portfolio increased its value in 10% in 2020, 15% in 2021 and 22% and 2022. What was the
average annual rate of increase for the 3-year period?
Transcribed Image Text:15. Your portfolio increased its value in 10% in 2020, 15% in 2021 and 22% and 2022. What was the average annual rate of increase for the 3-year period?
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