SOLUTION: Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, he received $27,000. Find his average annual return by solving the equation 12,000(1 + r)^

Question 143977: Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, he received $27,000. Find his average annual return by solving the equation 12,000(1 + r)^2 = 27,000.
This problem is in a chapter on equations by factoring, and also has examples for the Pythagorean theorem.
Thanks for any help you can give me!
Answer by vleith(2983) (Show Source): You can put this solution on YOUR website!
Given find r

Henry made 50% per year compounded annually.

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