Average annual GROWTH

[Guest]

Can anyone tell me how i would calcualte the average annual growth if i have
9 as the number of periods PV= 935,686 FV= 7,494,992.
the answer is 1.297045258

 

[Guest]

Sounds suspiciously like homework.

Avg annual growth rate = ((FV/PV) ^ (1/# periods)) -1

format as a percent

 

[Fred Smith]

Also, if you're required to use a function, it's Rate.