Solve the problem.
-If an investment of P dollars grows to A dollars in two years, the annual rate of return on the investment is given byJared Spencer bought a collector's coin set for $860 and sold it two years later for $1259. What was the approximate annual rate of return of his investment? Round to the nearest tenth of a percent.
A) 21%
B) 23.2%
C) 16%
D) 6.8%

Question

Solve the problem.
-If an investment of P dollars grows to A dollars in two years, the annual rate of return on the investment is given byJared Spencer bought a collector's coin set for $860 and sold it two years later for $1259. What was the approximate annual rate of return of his investment? Round  to the nearest tenth of a percent.
A) 21% 
B) 23.2% 
C) 16% 
D) 6.8%

Quizplus · Accepted Answer

The Answer of Solve the problem.
-If an investment of P dollars grows to A dollars in two years, the annual rate of return on the investment is given byJared Spencer bought a collector's coin set for $860 and sold it two years later for $1259. What was the approximate annual rate of return of his investment? Round  to the nearest tenth of a percent.
A) 21% 
B) 23.2% 
C) 16% 
D) 6.8%

Solve the Problem. -If an Investment of P Dollars Grows to a Dollars