Calculating Compounded Growth Rates
Is it possible to calculate a compounded growth rate using a begining
value, ending value, and number of intervals?
For example,
2005 Population = 24635
2010 Population = 30159
Inverals = 5
The annual rate (5 intervals) = 4.11%
=(30159 / 24635) ^ (1 / 5) - 1
Is there a function that can calucate the 4.11 % ?
=rate(5, 0, -24635, 30159)
(4.13%, by the way.)
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