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.
-$$\begin{array} { c c }
\text { Amount } & \text { Monthly Percentage } \
\text { Invested } & \text { Return } \
\$ 2840 & 2.2 \%
\end{array}$$ Find the annual percentage return.
A)26.4%
B)22%
C)749.76%
D)29.8%

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.
-$$\begin{array} { c c } 
\text { Amount } & \text { Monthly Percentage } \
\text { Invested } & \text { Return } \
\$ 2840 & 2.2 \%
\end{array}$$ Find the annual percentage return.
A)26.4%
B)22%
C)749.76%
D)29.8%

Quizplus · Accepted Answer

The annual percentage return can be calculated by multiplying the monthly percentage return by 12 (since there are 12 months in a year). Thus, $2.2\% \times 12 = 26.4\%$.