What annual rate of return is earned on a $1,000 investment when it grows to $2,700 in eight years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual rate of retum

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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What annual rate of return is earned on a $1,000 investment when it grows to $2,700 in eight years? (Do not round intermediate
calculations. Round your answer to 2 decimal places.)
Annual rate of retum
Transcribed Image Text:What annual rate of return is earned on a $1,000 investment when it grows to $2,700 in eight years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual rate of retum
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