Answered: Bob's house has doubled in value since…

Bob's house has doubled in value since he bought it 30 years ago. The house's value has increased by an annual rate of: a) 2.34%. b) 3.33%. c) 6.67%. d) 100%.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Bob's house has doubled in value since he
bought it 30 years ago. The house's value
has increased by an annual rate of:
a) 2.34%.
b) 3.33%.
c) 6.67%.
d) 100%.

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