Question

An investment of $9000 grows to $10,299.02 in 4 years. Find the annual rate of return...

An investment of $9000 grows to $10,299.02 in 4 years. Find the annual rate of return for annual compounding. [Hint: Use P(1 + r/m)mt with m = 1 and solve for r (rounded to one decimal place).]

R=??? %

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