SOLUTION: Venture capital 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 equatio
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-> SOLUTION: Venture capital 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 equatio
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Question 149792This question is from textbook Elementary and Intermediate Algebra
: Venture capital 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 question is from textbook Elementary and Intermediate Algebra
You can put this solution on YOUR website! 12000(1 + r)²=27000
Divide both sides by 12000:
(1 + r)² = 2.25
Take the square root of both sides:
(1 + r) = 1.5
Subtract 1 from both sides:
r = .5
