Rate of return Personal Finance ProblemRishi Singh has $2,300 to invest. His investment counselor suggests that Rishi should buy an investment that pays no interest but will be worth $3,100 after 2 years.

a. What average annual rate of return will Rishi earn with this investment?

b. Rishi is considering another investment, of equal risk, that earns an annual return of 14.10%. Which investment should he make, and why?

a. The annual rate of return Rishi will earn with this investment, r, is____%. (Round to two decimal places.)