What annual rate of return did the team make over the, Econometrics

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What annual rate of return did the team make over the

The Office of Naval Research sponsors a contest for college students to build underwater robots that can perform a series of tasks without human intervention. The University of Florida, with its SubjuGator robot, won the $7000 first prize (and serious bragging rights) over 21 other universities. If the team spent $2000 for parts (at time 0), what annual rate of return did the team make over the project life of two years?

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