Answer:
b.9%
Explanation:
Formula for annual rate of return formula is as follows;
Annual rate of return = [ (New value/ Initial value)^(1/t) ] -1
t = the total holding period of investment = 12 years
Old value = 22,000
New value = 62,000
Next, plug in the numbers to the formula;
Annual rate of return; r = [ (62,000/22,000) ^(1/12) ] -1
r = [2.8182 ^(1/12)] - 1
r = 1.0902 -1
r = 0.0902 or 9%
Answer:
The expertise acquired by the employees in the company.
