Josey Wells is considering making an investment in a tax shelter. The investment requires a cash payment of $5,000 today, and the shelter promoter is sure Josey will double her money in about 5 years. What is Josey’s rate of return on the investment? Construct a time-line diagram to help you solve this problem.

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To calculate Josey Wellss rate of return on the investment we can use the formu... View the full answer