SOLUTION: Henry invested $12,000.00 in a new resturant. When the resturant was sold two years later, he received $27,000.00. Find his average annual return by solving the equation 12,000.00(

Algebra ->  Quadratic Equations and Parabolas -> SOLUTION: Henry invested $12,000.00 in a new resturant. When the resturant was sold two years later, he received $27,000.00. Find his average annual return by solving the equation 12,000.00(      Log On


   

Question 48233: Henry invested $12,000.00 in a new resturant. When the resturant was sold two years later, he received $27,000.00. Find his average annual return by solving the equation 12,000.00(1+r)^2=27,000.00
Answer by atif.muhammad(135) About Me  (Show Source):
You can put this solution on YOUR website!
12,000.00(1+r)^2=27,000.00
%281%2Br%29%5E2+=+27%2F12
%281%2Br%29+=+sqrt%2827%2F12%29
r+=+sqrt%2827%2F12%29+-+1+
r+=+1.5+-+1+=+0.5