Question: Jason Allen has $2,900 to invest. His brother approached him with an investment opportunity that could double his money in 3 years. What interest rate

Jason Allen has $2,900 to invest. His brother approached him with an investment opportunity that could double his money in 3 years. What interest rate would the investment have to yield in order for Jason's brother to deliver on his promise? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72%.)

Expected rate of return

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