HELP PLEASE!

Sam has a savings account that has increased in value over a 12 month period from $8765.00 to $9,006.04. He made no deposits or withdrawals in that time. What annual percent interest did he receive for that 12 month period?

Question

HELP PLEASE! 

Sam has a savings account that has increased in  value over a 12 month period from $8765.00 to $9,006.04. He made no deposits or withdrawals in that time. What annual percent interest did he receive for that 12 month period?

anonymous · Answer

I know that $241.04 was the increase from the 1st price to the 2nd price

anonymous · Answer

2.75%

anonymous · Answer

How? if you dont mind explaining

anonymous · Answer

Quantitative Gain: 9006.04-8765.00=241.04

Percent Gain: 241.04/8765=0.0257=2.75%

anonymous · Answer

thank you

anonymous · Answer

Your welcome