Thomas invests $800 in a project and expects to receive $920 one year from today. 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 16P
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General Accounting

Thomas invests $800 in a project and expects to receive
$920 one year from today. Calculate the rate of return on
this investment project.
Transcribed Image Text:Thomas invests $800 in a project and expects to receive $920 one year from today. Calculate the rate of return on this investment project.
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