An investment of $9000 grows to $10,293.16 in 4 years. Find the annual rate of return...

Transcribed Image Text:

An investment of $9000 grows to $10,293.16 in 4 years. Find the annual rate of return for annual compounding. [Hint: Use P 1 + =J Submit Answer % mt with m 1 and solve for r (rounded to one decimal place).] m An investment of $9000 grows to $10,293.16 in 4 years. Find the annual rate of return for annual compounding. [Hint: Use P 1 + =J Submit Answer % mt with m 1 and solve for r (rounded to one decimal place).] m

Answer rating: 100% (QA)

Solution 900 grows ... View the full answer