For an investment of $26,245, a quarterly statement reports that the account balance is $26,292. The statement also reports that for the same quarter, the rate of return on the investment was - 0.02%. Given the information regarding the investment's quarterly activity, is the reported rate of return reasonable?

Question

Mathematics

Guest

5 October, 06:27

For an investment of $26,245, a quarterly statement reports that the account balance is $26,292. The statement also reports that for the same quarter, the rate of return on the investment was - 0.02%. Given the information regarding the investment's quarterly activity, is the reported rate of return reasonable?

+3

Answers (1)

Know the Answer?

Paityn Macdonald · Answer 1

For an investment of $26,245, a quarterly statement reports that the account balance is $26,292. The statement also reports that for the same quarter, the rate of return on the investment was - 0.02%. Given the information regarding the investment's quarterly activity, is the reported rate of return reasonable? No the rate should be 3.00%