SOLUTION: Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, he received $27,000. Find his annual return by solving the equation 12,000 (1+r)^2= 27,000
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Question 98192: Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, he received $27,000. Find his annual return by solving the equation 12,000 (1+r)^2= 27,000
Answer by 303795(602) (Show Source): You can put this solution on YOUR website!
Find the square root of each side.
So r = 0.50 = 50%.
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