Thanks Stanley Roper has \$2,200 that he is looking to invest. His brother approached him with an investment opportunity that couldgive Patrick...
View the step-by-step solution to:

Question

# Q5 please show Formula steps and explain. ThanksStanley Roper has \$2,200 that he is looking

to invest. His brother approached him with an investment opportunity that could give Patrick \$4,800 in 4 years. What interest rate would the investment have to yield in order for Stanley's brother to deliver on his promise? (Answer needs to be stated as a decimal. For example: .1192) Round to four decimal places.

So, interest rate would the investment have to yield in order... View the full answer

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents