sam has a savings account that increased in value over a twelve month period from $8765.00 to $9006.04 he made no deposits or withdraws in that time. what percent interests did he receive for the 12 month period?
A. 2.75% B. 3.67% C. 9.73% D. 2.01%|||% increase = (new-old)/old
(9006.04-8765.00)/8765.00
241.04/8765 = .0275 = 2.75% A|||interest earned = final balance - initial balance
= 9006.04 - 8765.00 = 241.04
Interest % = 241.04/8765 * 100 = 2.75%
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