You have $1,900 that you want to invest in your classmate’s start-up business. You believe the business idea to be great and expect to get $4,550 back at the end of three years. If all goes according to plan, what will be the annual return on your investment? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72%.) The expected annual rate of return_____%
You have $1,900 that you want to invest in your classmate’s start-up business. You believe the business idea to be great and expect to get $4,550 back at the end of three years. If all goes according to plan, what will be the annual return on your investment? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72%.) The expected annual rate of return_____%
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 28P
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You have $1,900 that you want to invest in your classmate’s start-up business. You believe the business idea to be great and expect to get $4,550 back at the end of three years. If all goes according to plan, what will be the annual return on your investment? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72%.)
| The expected annual rate of return_____% |
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