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If an asset declines in value from $5000 to $3500 over nine years, what is the mean annual growth rate in the asset's value over these nine years? Round your answer to two decimal places.



Answer :

nobillionaireNobley
If an asset declines in value from $5000 to $3500 over nine years, then the mean annual growth rate in the asset's value over these nine years to two decimal places is given by:

[tex]Mean\, growth\, rate= \frac{3500-5000}{9} = \frac{-1500}{9} =-\$166.67[/tex]