SOLUTION: If I invest $1,000 and get back $12,000 in 19 years what is my yearly rate of return?

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Question 724743: If I invest $1,000 and get back $12,000 in 19 years what is my yearly rate of return?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
The total return is +12000+-+1000+=+11000+
The annual rate of return is +%28+11000+%2F+1000+%29%2A%281%2F19%29%2A100+ %
+%28++11%2F19+%29%2A100+ %
57.89%