Respuesta :
Your grandfather invested $2,000 in a stock 49 years ago. Currently the value of his account is $208,000.
The percentage compound rate of return over this period will be $10.14
How to calculate the compound interest?
We will use the following formula to calculate the compound interest:
[tex]A = P(1 + \frac{r}{n})^{nt}[/tex]
Here, A is the total value of return
P is the principle amount
r is the rate of interest
n is the number of times interest applied per time period
t is the time period in years
Substituting all the values, we get:
[tex]208,000=2,000(1+\frac{r}{1})^{1\times49} \\208,000=2000+2000r^{49}\\2000r^{49}=206000\\r^{49}=103\\r=10.14\\[/tex]
To learn more about the compound interest, refer to:
brainly.com/question/14295570
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