FUNDAMENTALS OF FINANCIAL PLANNING
What was the average annual compound rate of return on his investment? Yield = 4.5%. 3. A bank customer put $2,500 in a savings account for his son on his 12th birthday. Today, on his 21st birthday, the account has a balance of $4,000. If interest is compounded quarterly, what was the average annual compound rate of return on the account? Yield ... ................
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