SOLUTION: 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 withdrawls during this time. What percent interest di

Question 298607: 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 withdrawls during this time. What percent interest did he receive for the twelve month period?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
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 withdrawls during this time. What percent interest did he receive for the twelve month period?
9006.04 - 8765 is the interest.
=241.04
on 8765 the interest is 241.04
for 100 it will be = 100*241.04 / 8765
= 2.75 %

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