Suppose you deposited $1,200 five years ago and another $800 three years ago in your savings account. If your current account balance shows $2,800, what is the rate of return on your deposit?

Economics Today and Tomorrow, Student Edition
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ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
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Suppose you deposited $1,200 five years ago and another $800 three years ago in your savings account. If your current account balance shows $2,800, what is the rate of return on your deposit?

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