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Question: i need help with part b what formula we use...

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A good stock-based mutual fund should earn at least 9% per year over a long period of time. Consider the case of Barney and Lynn, who were overheard gloating for all to hear about how well they had done with their mutual fund investment. We turned a $30,000 investment of money in 1982 into $120,000 in 2007. a. What return (interest rate) did they really earn on their investment? Should they have been bragging about how investment-savvy they were? b. Instead, if $1,200 had been invested each year for 25 years to accumulate $120,000, what return did Barney and Lynn eam? Click the icon to view the interest and annuity table for discrete compounding when ,:996 per year. a. The interest rate Barney and Lynn really earn on their investment is 570%. (Round to the one decimal place.) Barney and Lynne should not have been bragging about how investment-savvy they were. b The interest rate Barney and Lynn earn on their investments is 1 % Round to the one decimal place.)I NEED HELP WITH PART (B), WHAT FORMULA WE USE? NO EXCEL PLEASE

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