Posted by kermit on 8/16/2017 12:35:00 PM (view original):
Based on my modeling, the answer is slightly less than 10.96% annually.
That's what I got.
If you start with an excel spreadsheet, and put your base amount in A1 (In your example, 1.00), put the number of compounding periods in B2 (in your example, 20), and put the ending amount in C1 (in your example, 8.00), you can put this formula into D1 to get your rate of growth per period.
=((C1/A1)^(1/B1))-1