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annual dividends of generic electrical grew from $0.67 in 2012 to $1.04 in 2017. what was the annual growth rate? (round your answer to 2 decimal places.)

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Generic Electrical's annual dividends increased by 9.19% from $0.67 in 2012 to $1.04 in 2017.

The value of an asset at a future date is its future value. It is the present value multiplied by the accumulation function, and it represents the nominal amount of money that a particular amount of money will be "worth" at a given point in the future under the assumption of a specific interest rate.

FV = PV (1 + r), where r is the periodic interest rate and n is the number of periods.

$ 1.04 = $ 0.67 ( 1 + r )⁵

( 1 + r )⁵ =  $1.04 / $0.67

( 1 + r )⁵ = 1.5522

( 1 + r )  = 1.5522¹/₅

( 1 + r )  = 1.0919

 r  = 1.0919 - 1

 r  = 0.0919 i.e 9.19 %

Future Value = Present Value x (1 + r)n

9.19% is the annual growth rate or interest rate.

To know more about Future Value, refer to this link:

https://brainly.com/question/11429476

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