What is the rate of return-including the government match

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Reference no: EM13839838

Agriculture and Agri-Food Canada implemented a farm savings plan called AgriInvest that would help farmers navigate shallow losses (differences between revenues and expenses that are not extreme). The program allows farmers to deposit 1.5% of allowable net sales (up to $1,500,000 per year) into an account (and the government will match 1.5%, up to $22,500). Assume that the fund grows at 0% per year. What is the rate of return (on the first 22,500 contributed by the farmer) when including the government match?

Reference no: EM13839838

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