document.write( "Question 1141477: 20 years after purchasing shares in a mutual fund for $5,700, the shares are sold for $11,200. What is the annual return percentage? \n" ); document.write( "

Algebra.Com's Answer #762037 by MathTherapy(10557) $\"\"$ $\"About$

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20 years after purchasing shares in a mutual fund for $5,700, the shares are sold for $11,200. What is the annual return percentage?
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This should be based on SIMPLE INTEREST, and so, A = P(1 + TR)
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document.write( "11,200 = 5,700(1 + 20R) ------- Substituting 11,200, $5,700, and 20 for A, P, and T, respectively 
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document.write( "Solve the above for R. 
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document.write( "You should get: \r
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document.write( "Annual return percentage =  \n" );
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