Over nine years Craig earned interest of $29,700 on an investment of $16,000. What effective rate of return did he earn?
A) 7.11%
B) 9.44%
C) 10.92%
D) 12.37%
E) 13.56%

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The Answer of Over nine years Craig earned interest of $29,700 on an investment of $16,000. What effective rate of return did he earn?
A) 7.11%
B) 9.44%
C) 10.92%
D) 12.37%
E) 13.56%

Over Nine Years Craig Earned Interest of $29,700 on an Investment