Michael invests $3,500 in a business venture and expects to receive $4,235 after one year. Calculate the rate of return on this investment project.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 22P
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I need help with accounting question

Michael invests $3,500 in a business venture and expects to
receive $4,235 after one year. Calculate the rate of return on
this investment project.
Transcribed Image Text:Michael invests $3,500 in a business venture and expects to receive $4,235 after one year. Calculate the rate of return on this investment project.
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