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    3074 Dwayne's Avatar
    3074 Dwayne Posts: 1, Reputation: 1
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    #1

    Jun 23, 2008, 11:37 AM
    Geometric Mean
    In 1996 a total of 14,968,000 taxpayers in the U. S. filed their individual tax returns electronically. By the year 2004 the number increased to 66,290,000. What is the geometric mean annual increase for the period?
    iamthetman's Avatar
    iamthetman Posts: 105, Reputation: 8
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    #2

    Jun 24, 2008, 11:03 AM
    So there's 8 years of increase. You start with 14,968,000 and end with 66,290,000.

    The compounded increase per year would be:

    14,968,000 * (1 + rate increase per year)^8 = 66,290,000

    Then rearrange and solve for the rate of increase per year.
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