monica7093
monica7093 monica7093
  • 24-05-2021
  • Mathematics
contestada

Can anyone help me out? I’ll give Brainly! Thank you :)

Can anyone help me out Ill give Brainly Thank you class=

Respuesta :

olayemiolakunle65
olayemiolakunle65 olayemiolakunle65
  • 29-05-2021

Answer:

The rate of return is 14%

Step-by-step explanation:

The rate of return can be determined by,

RR = [tex]\frac{A_{f} - A_{i} }{A_{i} }[/tex] x 100%

where:

RR is the rate of return

[tex]A_f}[/tex] is the final amount = $690 -  $6 = $684

[tex]A_{i}[/tex] is the initial amount = $15 x 40 = $ 600

So that,

RR = [tex]\frac{684 - 600}{600}[/tex] x 100%

     = 0.14 x 100%

     = 14%

Therefore, the rate of return is 14%.

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