7. Suppose you make an investment that increases from an original principal of $3500 to an accumulated value of $6000 after 6 years. A. By what percentage did the investment increase overall (Total Return)? B. By what average percentage did the investment increase each year (Annual Return)?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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7. Suppose you make an investment that increases from an original principal of $3500 to an accumulated value of $6000
after 6 years.
A. By what percentage did the investment increase overall (Total Return)?
B. By what average percentage did the investment increase each year (Annual Return)?
8. A student loan of $24,000 at a fixed APR of 7% for 10 years.
Transcribed Image Text:Show all work. 7. Suppose you make an investment that increases from an original principal of $3500 to an accumulated value of $6000 after 6 years. A. By what percentage did the investment increase overall (Total Return)? B. By what average percentage did the investment increase each year (Annual Return)? 8. A student loan of $24,000 at a fixed APR of 7% for 10 years.
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