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.
-$$\begin{array} { c c }
\text { Amount } & \text { Monthly Percentage } \
\text { Invested } & \text { Return } \
\$ 636 & 1.4 \%
\end{array}$$ Find the annual return.
A)$16.80
B)$106.85
C)$10,684.80
D)$8.90

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.
-$$\begin{array} { c c } 
\text { Amount } & \text { Monthly Percentage } \
\text { Invested } & \text { Return } \
\$ 636 & 1.4 \%
\end{array}$$ Find the annual return.
A)$16.80
B)$106.85
C)$10,684.80
D)$8.90

Quizplus · Accepted Answer

The monthly return is 1.4% of $636, which is $8.904. Over 12 months, the annual return is $8.904 * 12 = $106.85.