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Find the average annual rate of return

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Twenty-two years ago, a particular violin cost $2,000. Today, that same violin costs $21,472. What has been the inflation rate on this instrument?

Several years ago, Jacquelyn invested $6,000. Today, that investment is worth $97,920. It has earned an average annual rate of return of 9.5 percent, compounded annually. How long ago did Jacquelyn make her investment?

Reference no: EM133116243

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