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I have a one question math quiz that is either pass or fail... Really hoping someone on here happens to know how to do this problem. +k for anyone that can help.
A business purchased for $550,000 in 1997 is sold in 2001 for $850,000. What is the annual rate of return for this investment?
I think to find the annual rate of return you divide the "interest earned in a year" by the "initial principal" so I think I need to find out the interest earned in a year first then I can get the answer.
I know this could be a shot in the dark with newschoolers but I figured it would be better then failing the quiz haha.
