A company invests $1 million to clear land and plant pine trees. The trees will mature in 10 years and the company expects to sell them for $3 million. What will be its annual rate of return on this investment
Explanation:if the company sells the trees at the rate of $3000000 in 10 years, the annual rate of return on $ 1000000 investment will be $300000 ($3000000/10=$300000).
