On January 1, 2004, Alicia invested $4,000 in a savings account. At the end of January, the
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On January 1, 2004, Alicia invested $4,000 in a savings account. At the end of January, the account balance had increased to $4,020. The balance at the end of February was $4,040.10. The balance at the end of March was $4,060.30. The increases occurred because of interest earned on the account. What was Alicia’s return on investment, in dollars and cents, for each of the three months? What was the total return for the three months taken together?
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Related Book For
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
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