I won't this general accounting question please solve it.. One year ago, you invested $3,250. Today,it is worth $4,000. What rate of interestdid you earn?a. 11.54 percentb. 5.33 percentc. 23.08 percentd. 1.92 percente. 4.33 percent

Step 1: Computation 1 By using the future value formula, we can substitute the amounts and find the…

Answered: One year ago, you invested $3,250.…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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One year ago, you invested $3,250. Today, it is worth $4,000. What rate of interest did you earn? a. 11.54 percent b. 5.33 percent c. 23.08 percent d. 1.92 percent e. 4.33 percent