Mathematics for FinanceMTP Jun 23Question 1583 of 422
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Ravi made an investment of $15,000$ in a scheme and at the time of maturity, the amount was $25,000$. If the Compound Annual Growth Rate (CAGR) for this investment is $8.88\%$. Calculate the approximate number of years for which he has invested the amount.

Options

A$6$
B$7.7$
C$5.5$
D$7$
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Correct Answer

Option b$7.7$

All Options:

  • A$6$
  • B$7.7$
  • C$5.5$
  • D$7$

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