If you can please help, I cant seem to figure out how to work theses 3 problems. The answers I have are completly wrong. Plesase Help…. Thankyou so much.
Use the following information for problems 1-3.
As part of an inheritance, you invested $50,000 into shares of Erie Insurance (NASDAQ: ERIE). Below are the annual
returns:Year Return 2012-16%
Calculate the average annual return over the time period.
What is your investment worth as of the end of 2017?
Calculate the CAGR of your investment over the 6 years.