Georgia purchased a house in 1997 for $220,000. In 2003 she sold the house and made a net profit of $41,000. Find the effective annual rate of return on her investment over the 6-yr period. Please round the answer to the nearest tenth of percent.
__________%/yr

Question

Quizplus · Accepted Answer

The Answer of Georgia purchased a house in 1997 for $220,000. In 2003 she sold the house and made a net profit of $41,000. Find the effective annual rate of return on her investment over the 6-yr period. Please round the answer to the nearest tenth of percent.
__________%/yr

Georgia Purchased a House in 1997 for $220,000