SOLUTION: I bought a coin ten years ago for 290.00 and sold it for 1300.00 today what would the % be on the profit made from it over the ten years VS a banks % on money in an account be ?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: I bought a coin ten years ago for 290.00 and sold it for 1300.00 today what would the % be on the profit made from it over the ten years VS a banks % on money in an account be ?      Log On


   

Question 1025623: I bought a coin ten years ago for 290.00 and sold it for 1300.00 today what would the % be on the profit made from it over the ten years VS a banks % on money in an account be ?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
I bought a coin ten years ago for 290.00 and sold it for 1300.00 today what would the % be on the profit made from it over the ten years VS a banks % on money in an account be ?
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(1300 - 290)/290 =~ 348% --> 34.8% per year average (using simple interest).
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Banks vary.