What annual rate of interest did you earn ? Solve this problem general Accounting Two years ago, you invested $5,000. Today, the investment isworth $6,500. What annual rate of interest did you earn?a. 15.00 percentb. 14.02 percentc. 30.00 percentd. 13.06 percente. 12.25 percent

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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. 14.02 percent c. 30.00 percent d. 13.06 percent e. 12.25 percent