posted by Steph on .
Sam has a savings account that increased in value over a twelve month period from $8765.00 to $9006.04. He made no deposits or withdrawals in that time. What percent interest did he receive for the 12 month period?
9006.04 - 8765 = 241.04
241.04 / 8765 = 0.0275002852 = 2.75%