given answer of this General accounting question Two years ago, you invested $5,000. Today, the investmentis worth $6,500. What annual rate of interest did you earn?a. 15.00 percentb. 30.00 percentc. 14.02 percentd. 7.50 percente. 10.00 percent

Step 1: Define Annual Rate of Interest (Compound Interest Rate) is the percentage rate at which an…

Answered: Two years ago, you invested $5,000.…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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Two years ago, you invested $5,000. Today, the investment is worth $6,500. What annual rate of interest did you earn? a. 15.00 percent b. 30.00 percent c. 14.02 percent d. 7.50 percent e. 10.00 percent