Answer:
the rate of return on your deposit is 2540%.
Step-by-step explanation:
To calculate the rate of return on your deposit, we need to determine the total amount you deposited and the total interest earned.
The amount deposited five years ago is $1,200, and the amount deposited three years ago is $800. Therefore, the total amount you deposited is:
Total deposit = $1,200 + $800 = $2,000
The current account balance is $52,800, which includes the total deposit amount plus the interest earned over the years.
Interest earned = Current account balance - Total deposit
Interest earned = $52,800 - $2,000 = $50,800
Now, we can calculate the rate of return using the formula:
Rate of return = (Interest earned / Total deposit) * 100
Rate of return = ($50,800 / $2,000) * 100
By performing the calculation, we find that the rate of return on your deposit is 2540%.