Calculate your annual rate of return

Reference no: EM132160917

Question: Your cousin Jeremy has asked you to bankroll his proposed business painting houses in the summer. He plans to operate the business for 5 years to pay his way through college. He needs $5000 to purchase an old pickup, some ladders, a paint sprayer, and some other equipment. He is promising to pay you $1500 at the end of each summer (for 5 years) in return for this investment. Calculate your annual rate of return.

Reference no: EM132160917

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