wburke0204
Answered

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Pamela made a profit of $3250 after selling stocks for $10500 after 4 years. What was her average annual percentage gain?

Sagot :

ajinems

Pamela's average annual percentage gain was = 7.7%

Calculation of annual percentage gain

The start up capital (P) = $10500

The simple interest (SI) = $3250

Time (T) = 4 years

Rate = ?

But SI = P × T × R /100

Make R the subject of formula,

R = SI × 100/P × T

R = 3250 × 100/ 10500 × 4

R = 325000/ 42000

R = 7.7%

Therefore, Pamela's average annual percentage gain was = 7.7%

Learn more about simple interest here:

https://brainly.com/question/25793394

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