Solve the problem.If an investment of P dollars grows to A dollars in two years, the annual rate of return on the investment is given by  Jared Spencer bought a collector's coin set for $770 and sold it two years later for $1192. What was the approximate annual rate of return of his investment? Round to the nearest tenth of a percent.

A. 19.4%
B. 24.4%
C. 27.4%
D. 7.4%


Answer: B

Mathematics

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