Eight years ago, Stan purchased 10 shares of an aggressive growth mutual fund at

Average annual rate of return = 22.3%

Explanation:

The average annual rate of return can be computed using the Future value of a a single sum

FV = PV × (1+r)^n

FV = value of investment, PV = cost of investment, r- rate of return, n- number of years

900×(1+r)^8 = 4500

divide both sides by 900

1+r = 4,500/900

1+r =  (4.500/900)^(1/8)

r =  (4.500/900)^(-10) - 1

r= 0.2228

r =0.2228  × 100

Average annual rate of return = 22.3%

Since many owners choose to structure their business as a sole proprietorship due to its ease in startup, it might seem obvious that closing down the business is equally simple. However, because company assets as well as debts are tied to the owner, matters can get complicated as all obligations and taxes must be taken care of before the company can be officially dissolved. Other, less difficult tasks can include the surrendering of industry and local licenses and the cancellation of Doing Business As names and Employer Identification Numbers