Suppose your parents invested $1500 into a savings account on the day you were born and never invested any other money in the account. Today that account is worth $4300. What is the rate of return on the savings account?

Question

Quizplus · Accepted Answer

The rate of return is calculated by taking the final value minus the initial value, then dividing by the initial value, and finally multiplying by 100 to get a percentage. So, for this question: $(4300 - 1500) / 1500 * 100 = 186%$.

Suppose Your Parents Invested $1500 into a Savings Account on the Day