question 14 (3.0 points) the amount of $1,850.00 is invested in a savings account. after 4 years the account…

question 14 (3.0 points) the amount of $1,850.00 is invested in a savings account. after 4 years the account has $2,213.11. find the return on investment for this account. use this formula: $roi=\frac{fv - p}{p}\times100$ round your answer to two decimal places. your answer: answer units

question 14 (3.0 points) the amount of $1,850.00 is invested in a savings account. after 4 years the account has $2,213.11. find the return on investment for this account. use this formula: $roi=\frac{fv - p}{p}\times100$ round your answer to two decimal places. your answer: answer units

Answer

Explanation:

Step1: Identify values

$FV = 2213.11$, $P=1850$

Step2: Substitute into formula

$ROI=\frac{2213.11 - 1850}{1850}\times100$ First, calculate the numerator: $2213.11-1850 = 363.11$. Then, $\frac{363.11}{1850}\times100=\frac{36311}{1850}$

Step3: Calculate result

$\frac{36311}{1850}\approx19.63$

Answer:

$19.63$