## If an asset declines in value from $5,000 to $4,100 over nine years, what is the mean annual growth rate in the asset’s value over these nin

Question

If an asset declines in value from $5,000 to $4,100 over nine years, what is the mean annual growth rate in the asset’s value over these nine years? Enter your answer as a percentage. If needed, round your answer to two decimal digits.

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2022-01-08T12:35:30+00:00
2022-01-08T12:35:30+00:00 1 Answer
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## Answers ( )

Answer:-2.18%

Step-by-step explanation:The mean annual growth rate of an investment over ‘n’ years is given by the following expression:

For a 9-year investment with present value of $4,100 and initial value of $5,000, mean annual growth rate is:

The mean annual growth rate in the asset’s value is -2.18%