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%
2013-11%
2014-25%
2015-5%
2016-18%
2017-7%
Problem 1
Calculate the average annual return over the time period.
Problem 2
What is your investment worth as of the end of 2017?
Problem 3
Calculate the CAGR of your investment over the 6 years.
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