Suppose your uncle invested $118,000 in an investment 6 years ago. the investment is worth now $237,500. the annual interest rate (rate of return) on the investment during this period must be % per year.

Calculation of rate of return on the investment:

It is given that the uncle invested $118,000 in an investment 6 years ago. The investment is worth now $237,500. It means the interest earned on the investment is (237500-118000) =$119,500

The interest rate can be calculated as follows:

Interest rate  = Interest Earned / (Amount invested * Years)

= 119500 / (118000*6)

=119500 / 708000

=0.1688

=16.88%

Hence the annual interest rate (rate of return) on the investment during this period must be 16.88% per year.

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."

answer; rapid growth in buyer demand and high buyer switching cost;