Bing gave $800 to her cousin. As a token of gratitude, her cousin gave her $1, 520 at the end of the year instead of $800. If she looks at this as an investment, what is the annual rate of return?
Bing gave $800 to her cousin. As a token of gratitude, her cousin gave her $1, 520 at the end of the year instead of $800. If she looks at this as an investment, what is the annual rate of return?
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 14MCQ
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Transcribed Image Text:Bing gave $800 to her cousin. As a token of
gratitude, her cousin gave her $1, 520 at the
end of the year instead of $800. If she looks at
this as an investment, what is the annual rate
of return?
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