Can someone help me with this problem?
"at the end of each yr for the next 10 yrs you will receive $50. Initial investment is $320. what is the rate of return expected?"
I started by by looking at it this way
320 = 50 * (1-(1/(1+r)^10))/r
but impossible to solve...
p.s. i'm not allowed to use a financial calculator
do i just estimate it ..that will take forever and i'm not sure if there will be tables on the exam