A condominium complex was purchased by a group of private investors for $1.3 million and sold 7 year(s) later for $3.9 million. Find the annual rate of return (compounded continuously) on their investment. Round your answer to two decimal places.
?

A. 15.67% per year
B. 15.63% per year
C. 15.69% per year
D. 15.61% per year
E. 15.65% per year


Answer: C

Mathematics

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