An investment that is worth $27,200 is expected to pay you $62,280 in 5 years and has an expected return of X percent per year. What is X?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter11: Capital Budgeting And Risk
Section: Chapter Questions
Problem 20P
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An investment that is worth $27,200 is expected to pay you $62,280 in 5 years and has an expected return of X percent per year.

What is X?

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