calculate the cagr growth rate of 973.3 million to 1,550.1M million from 2024 to 2028

The Compound Annual Growth Rate (CAGR) is a useful measure to understand the mean annual growth rate of an investment over a specified period of time, assuming the investment has been compounding over that period.

The formula to calculate CAGR is:

\[
\text{CAGR} = \left( \frac{{\text{Ending Value}}}{{\text{Beginning Value}}} \right)^{\frac{1}{n}} - 1
\]

Where:
- **Ending Value** is the final value (1,550.1 million)
- **Beginning Value** is the initial value (973.3 million)
- **n** is the number of years (2028 - 2024 = 4 years)

Now, let's plug in the values and calculate the CAGR.

\[
\text{CAGR} = \left( \frac{1,550.1}{973.3} \right)^{\frac{1}{4}} - 1
\]

I'll calculate this for you.The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately **12.34%**.

Would you like more details on the calculation or have any other questions?

Here are 5 related questions:
1. How does CAGR differ from average annual growth rate (AAGR)?
2. Can you use CAGR to compare different investment options?
3. What are some limitations of using CAGR?
4. How would the CAGR change if the period was extended to 5 years?
5. How do changes in the initial or final values impact the CAGR?

**Tip:** CAGR assumes that the growth is consistent over the period, which might not always be the case in real-life scenarios.

Learn how to calculate the Compound Annual Growth Rate (CAGR) for an investment that grows from 973.3 million to 1,550.1 million over 4 years, from 2024 to 2028. This solution covers the key formula for CAGR and explains how to compute it, providing an accurate growth rate of approximately 12.34%.

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