Jordan invested $12,500 to help her friend Dylan start his own cooking school five years ago. The

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Jordan invested $12,500 to help her friend Dylan start his own cooking school five years ago. The business proved to be successful far beyond Dylan’s expectations. Today he is returning a check to Jordan and has told her that as best as he could figure, she was receiving the equivalent of about 38% per year for her initial investment. What is the amount of the check Dylan has for Jordan today?

a. $44,632.49.

b. $50,733.57.

c. $62,961.25.

d. $66,980.35.

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Fundamentals Of Financial Planning

ISBN: 9781936602094

3rd Edition

Authors: Michael A Dalton, Joseph Gillice

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