For the given investment, assume that there is no opportunity for reinvestment of returns. Find the monthly return,
annual return, or annual percentage return as indicated.
-$$\begin{array} { c c }
\text { Amount } & \text { Monthly Percentage } \
\text { Invested } & \text { Return } \
\$ 2211 & 1.8 \%
\end{array}$$ Find the annual return.
A)$39.80
B)$21.60
C)$477.58
D)$397.98

Question

For the given investment, assume that there is no opportunity for reinvestment of returns. Find the monthly return,
annual return, or annual percentage return as indicated.
-$$\begin{array} { c c } 
\text { Amount } & \text { Monthly Percentage } \
\text { Invested } & \text { Return } \
\$ 2211 & 1.8 \%
\end{array}$$ Find the annual return.
A)$39.80
B)$21.60
C)$477.58
D)$397.98

Quizplus · Accepted Answer

The monthly return is calculated as 1.8% of $2211, which is $39.80. To find the annual return, multiply the monthly return by 12 (months in a year): $39.80 * 12 = $477.60. The correct answer is $477.58 due to rounding.