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OpenStudy (anonymous):
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?
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OpenStudy (anonymous):
I know that $241.04 was the increase from the 1st price to the 2nd price
OpenStudy (anonymous):
2.75%
OpenStudy (anonymous):
How? if you dont mind explaining
OpenStudy (anonymous):
Quantitative Gain: 9006.04-8765.00=241.04 Percent Gain: 241.04/8765=0.0257=2.75%
OpenStudy (anonymous):
thank you
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OpenStudy (anonymous):
Your welcome
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