Joe invested 12500 to help her friend dan start his own, Ask an Expert

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Joe invested $12,500 to help her friend Dan start his own cooking school five years ago. The business proved to be successful far beyond Dan’s expectations. Today he is returning a check to Joe and has told him that as best as he could figure, he was receiving the equivalent of about 38% per year for his initial investment. What is the amount of the check Dan has for Joe today?

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