Alex made an investment of $25,678 which had a return rate of 2.7% in the first year, 5.87% in the next year and 3.89% in the third year. What is the average rate of return on Alex's investment? A. B. 3.95% 4.05% C. 3.75% D. 3.50%

Alex made an investment of $25,678 which had a return rate of 2.7% in the first year, 5.87% in the next year and 3.89% in the third year. What is the average rate of return on Alex's investment? A. B. 3.95% 4.05% C. 3.75% D. 3.50%

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter2: Equations, Inequalities, And Problem Solving

Section2.S: Summary

Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?

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Question

Alex made an investment of $25,678 which had a return rate of 2.7% in the first year, 5.87% in the next year and 3.89% in
the third year. What is the average rate of return on Alex's investment?
A.
B.
3.95%
D.
4.05%
C. 3.75%
3.50%

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