Calculating yearly growth rate

Discussion in 'Accounting & Tax' started by nickthegun, 3rd Sep, 2019.

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  1. nickthegun

    nickthegun Member

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    Hi Property Chat,

    This might be an easy one. But how do i calculate the yearly growth rate on a property that was purchased in 2005 for $700k and is now worth $1.3m?

    $600k gain and 85.7% overall growth but how do I get that in an 'average growth rate per year'.

    I can't seem to figure out the math!

    Thank you

    Nicollo
     
    nickthegun, 3rd Sep, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Terry_w, 3rd Sep, 2019
    #2
    kierank likes this.
  3. Trainee

    Trainee Well-Known Member

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    Excel =(1300/700)^(1/14)-1
     
    Trainee, 3rd Sep, 2019
    #3
    The Y-man, thydzik, spludgey and 2 others like this.
  4. nickthegun

    nickthegun Member

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    Thank you!!
     
    nickthegun, 3rd Sep, 2019
    #4
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