what annual rate of return is needed to receive $930 in one year on an investment of $18,600?

Question

i nee to know the annual rate of a return to receive $930 back in one year after investing $18,600.

Answer 1

Interest = Principle*Rate*Time

• Interest = $930
• Principle = $18,600
• Time = 1 year
• Rate = TBD

 

$930 = ($18,600)*(Rate)*(1 year)

 

$930/$18,600 = Rate

 

Can you finish it from here?