Answer
9.46%
Step-by-step explanation
Annual rate of return formula
[tex]\text{ Annual rate of return }=[(\frac{ending\text{ value}}{initial\text{ value}})^{\frac{1}{No\text{ of years}}}-1]\times100[/tex]In this case, the ending value is $22,000, the initial value is $14,000, and the number of years is 5. Substituting these values into the formula:
[tex]\begin{gathered} \text{ Annual rate of return }={}\lbrack(\frac{22,000}{14,000})^{\frac{1}{5}}-1]\times100 \\ \text{Annual rate of return }=9.46\text{ \%} \end{gathered}[/tex]