SOLUTION: Josh 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

SOLUTION: Josh 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

Algebra.Com

Question 205137This question is from textbook Elementary and Intermediate Algebra
: Josh 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 This question is from textbook Elementary and Intermediate Algebra

Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!

Solve for r.
------------
(1+r)^2 = 27000/12000 = 2.25
1+r = 1.5
r = 0.5 = 50%

RELATED QUESTIONS
Venture capital. Henry invested $12,000 in a new restaurant. When the restaurant was... (answered by Theo,ikleyn)

mark invested $12, 000 in a new restaraunt. When the restaurant was sold two years... (answered by checkley77)

Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, (answered by 303795)

Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, (answered by checkley71)

96) Ventura Capital. Henry invested $ 12,000 in a new restaurant. When the restaurant was (answered by checkley71)

Venture capital Henry invested $12,000 in a new restaurant. When the restaurant was sold... (answered by nerdybill)

Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, (answered by checkley77)

Henry invested $12,000 in a new restaurant. When the restaurant was sold two years later, (answered by checkley77)

Venture capital. Henry invested $12,000 in a new restaurant. When the restaurant was... (answered by checkley77)