Question 3.99

99. Geometric Mean. The geometric mean is a measure of center used to calculate growth rates. Suppose that we have positive values; then the geometric mean is the th root of the product of the values. Jamal has been saving money in an account that has had 4% growth, 6% growth, and 10% growth over the last three years. Calculate the average growth rate over these three years. (Hint: Find the geometric mean of 1.04, 1.06, and 1.10 and subtract 1.)

3.1.99

Geometric mean = 1.0664, 6.64% growth