What annual rate of return is earned on a $5,000 investment when it grows to $8,000 in four years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) ANNUAL RATE OF RETURN.        %

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
8th Edition
ISBN:9781285065137
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter5: Time Value Of Money
Section: Chapter Questions
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What annual rate of return is earned on a $5,000 investment when it grows to $8,000 in four years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

ANNUAL RATE OF RETURN.        %

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