Answer:
Rate of return (r) = 7.177% (Approx)
Explanation:
Assume;
Amount deposit = p
Amount received = 2p
Number of year (n) = 10 year
Find:
Rate of return (r)
Computation:
[tex]A=p(1+r)^n \\\\ 2p = p(1+r)^{10} \\\\r=0.07177\\\\r=7.177%[/tex]
Rate of return (r) = 7.177% (Approx)
