If an investor buys shares in a no-load mutual fund for $40 and after eight years the shares appreciate to $57, what is (1) the percentage return and (2) the annual compound rate of return using time value of money? Round your answers to two decimal places. Percentage return:   % The annual compound rate of return:   %

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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If an investor buys shares in a no-load mutual fund for $40 and after eight years the shares appreciate to $57, what is (1) the percentage return and (2) the annual compound rate of return using time value of money? Round your answers to two decimal places.

Percentage return:   %

The annual compound rate of return:   %

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