Company XYZ invested $250,000 to develop a toxic waste management system. As a result of the investment, they earned $3000 each year. After 8 years, they decided to sell the rights to the design for $500,000. What rate of return did they make? Use trial and error method to find the rate of retum.

Calculus: Early Transcendentals
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ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
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Company XYZ invested $250,000 to develop a toxic waste management system. As a result of
the investment, they earned $3000 each year. After 8 years, they decided to sell the rights to
the design for $500,000. What rate of return did they make? Use trial and error method to find
the rate of retum.
Transcribed Image Text:Company XYZ invested $250,000 to develop a toxic waste management system. As a result of the investment, they earned $3000 each year. After 8 years, they decided to sell the rights to the design for $500,000. What rate of return did they make? Use trial and error method to find the rate of retum.
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