SOLUTION: Henry invested $12,000 in a new restarunt. When the restarunt was sold two years later, he recieved $27,000. Find his average annual return by solving the equation: 12,000(l+r)^2=2
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-> SOLUTION: Henry invested $12,000 in a new restarunt. When the restarunt was sold two years later, he recieved $27,000. Find his average annual return by solving the equation: 12,000(l+r)^2=2
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Question 163881This question is from textbook
: Henry invested $12,000 in a new restarunt. When the restarunt was sold two years later, he recieved $27,000. Find his average annual return by solving the equation: 12,000(l+r)^2=27,000 This question is from textbook
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take the log to the base 10 of both sides
Subtract from both sides
This is the same as saying
This says his average annual rate of return was 50%
