Rishi Singh has $1,500 to invest. His investment counselor suggests an investment that pays no stated interest but will return $2,000 at the end of 3 years.
a) What annual rate of return will Rishi earn with this investment?© BrainMass Inc. brainmass.com June 3, 2020, 10:36 pm ad1c9bdddf
The solution determines the rate of return on Rishi's investment. The investment is compounded for 3 years.