Capital investments reportedly earned annual rate of return

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According to The New York Times, “During the fourteen years [Mitt Romney] ran it, Bain Capital’s investments reportedly earned an annual rate of return of over 100 percent, potentially turning an initial investment of $1 million into more than $14 million by the time he left in 1998.” Source: The New York Times. What rate of return, compounded monthly, would turn $1 million into $14 million by 1998?

Reference no: EM131081543

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