Question

the amount of $1,850.00 is invested in a savings account. after 6 years the account has $2,153.42. find the return on investment for this account.
use this formula:
$roi = \frac{fv - p}{p} \times 100$
round your answer to two decimal places.
your answer:
answer units
view hint for question 4
question 5 (10 points)
the amount of $1,975.00 is invested in a savings account. after 7 years the account has $2,244.84. find the return on investment for this account.
use this formula:
$roi = \frac{fv - p}{p} \times 100$
round your answer to two decimal places.

Explanation:

Step1: Identify given values (Q4)

$P = 1850.00$, $FV = 2153.42$

Step2: Calculate ROI (Q4)

$$ROI = \frac{2153.42 - 1850.00}{1850.00} \times 100$$
$$ROI = \frac{303.42}{1850.00} \times 100 \approx 16.40$$

Step3: Identify given values (Q5)

$P = 1975.00$, $FV = 2244.84$

Step4: Calculate ROI (Q5)

$$ROI = \frac{2244.84 - 1975.00}{1975.00} \times 100$$
$$ROI = \frac{269.84}{1975.00} \times 100 \approx 13.66$$

Answer:

Question 4: 16.40, units: %
Question 5: 13.66, units: %