Ten years ago, Malik's annual salary was OMR 66

Finance Dec 10, 2020

Ten years ago, Malik's annual salary was OMR 66.885. Today, he earns OMR 83,629. What has been the average annual percentage rate of growth of Malik's salary? Select one: O a. 2.45% O b. 2.51% O c2.05% d. 2.26% O e. 2.21%

Expert Solution

Option d: 2.26%

Average Annual Percentage rate of growth = (83,629 / 66, 885)^1/10 – 1

= 2.26 %

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote