SOLUTION: Venture capittal. Henry invested $12,00 in a new resturant.When the resturant was sold two years laters, he received $27,000. Find his average annual return by solving the equation
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Question 207717: Venture capittal. Henry invested $12,00 in a new resturant.When the resturant was sold two years laters, he received $27,000. Find his average annual return by solving the equation 12,000(1+r)^2= 27,ooo.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
(1+r)^2=27000/12000
(1+r)^2=2.25
1+r=1.5
r=.5 or 50%
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