Question: D. A sample equation and an example. Below you will find the equation to determine the Implicit Interest Rate. Use it to solve the example

D. A sample equation and an example. Below you will find the equation to determine the Implicit Interest Rate. Use it to solve the example which follows. I/t Time Value Ex. #1 On January 4, 2000 Mark Cuban purchased the Dallas Mavericks NBA team for a price of $285 million (from H. Ross Perot). Twelve years later (as of January 25, 2012) Forbes magazine has valued the franchise at $497 million. What annualized rate of return has Mr. Cuban earned on his investment? Show your answer to five decimal places

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