Calculate the average annual return for the following investments that have no intermediate cash flows:
|
Beginning Price |
Ending Price |
Number of Years |
|
|
(a) |
$1,000 |
$1,500 |
2 |
|
(b) |
$10,000 |
$9,000 |
10 |
|
(c) |
$978 |
$1,000 |
3 |