Determining annual rate of return, Accounting Basics

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Determining annual rate of return

Assignment:

What annual rate of return is earned on a $5,000 investment when it grows to $10, 500 in five years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Annual rate of return _______________ %

Provide complete and step by step solution for the question and show calculations and use formulas.

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Accounting Basics: Determining annual rate of return

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Accounting Basics: Determining annual rate of return

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