A business purchased for $650,000 in 2012 is sold in 2015 for $850,000. What is the annual rate of return for this investment?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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A business purchased for $650,000 in 2012 is sold in 2015 for $850,000. What is the annual rate of return for this investment?

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