What is your rate of return on your savings?

Posted on 2014-11-11 10:54:00 in Math by MARK AUSTIN

Your mother helped you start saving $25 a month beginning on your 10th birthday. She always made you make your deposit on the first day of each month just to “start the month out right”. Today, you turn 21 and have $4,482.66 in your account. What is your rate of return on your savings? a. 5.25 percent b. 5.29 percent c. 5.33 percent d. 5.36 percent e. 5.50 percent

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