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Nady [450]
3 years ago
8

The Millers plan on retiring soon. When they were first married they purchased 1,000 shares in a mutual fund that was at that ti

me paying $10 a share. Now, thirty years later it is paying $78 a share. What is the percent increase for the fund?
Mathematics
2 answers:
kozerog [31]3 years ago
8 0

Answer: There is 680% increase for the fund.

Step-by-step explanation:

Since we have given that

Number of shares they purchased = 1000

Cost of per share at the time of their marriage = $10

So, Amount of fund will be

1000\times 10=\$10000

Cost per share after 30 years = $78

So, Amount of fund will be

78\times 1000=\$78000

Percentage of increase for the fund will be given as

\frac{78000-10000}{10000}\times 100=680\%

Hence, there is 680% increase for the fund.

Setler79 [48]3 years ago
3 0

Answer:

The answer is D

Step-by-step explanation:

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