Michael illitch bought the detroit tigers in 1992 for 82

Reference no: EM13378100

Michael Illitch bought the Detroit Tigers in 1992 for $82 million, which amounted to $114.15 million in 2005 dollars. by 2005, the Tigers were worth $292 million. Calculate the real compound annual rate of return on that investment. Please show all work even basic math. Anonymous - 54 minutes later investment in 1992 =82 million which is equal to 114.15 million in 2005 by 2005 the tigers worth =292 million so the increment =292-114.5=177.5 million time elapsed =13 years so the compound real rate = 7.5% Rate Here:Rate Answer Comments ProudCoffee1730 commented I got this response, but I don't understand how the compound real rate is 7.5%. Can someone show me the math for this please?

Reference no: EM13378100

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