One year ago, you invested $2,049. Today, it is worth $3,400. What rate of return did you earn? Enter answer in percents, accurate to two decimal places.

Question

asked Jul 2, 2024 153k views

1 Answer

Antoine Delia · Answer 1 · 2024-07-06T09:57:36+0000

Explanation:

I will assume this is just simple interest ( the question did not say)

FV = PV * (1 + i) for ONE year

3400 = 2049 ( 1 + i)

solve for i = 65.93%