Diane initially deposited $12,500 into a money market account and made no additional deposits or withdrawals. When she closed the account in exactly one year, its value had grown to $12,985. Calculate the annual growth rate for the money market account. Round your answer to two places after the decimal.

3.88% (2dp)

Explanation:

The growth rate is calculated by subtracting the old figure from the new figure and dividing by the original figure.

This shows us how much the initial figure has grown by.

Calculating therefore would be,

= 12,985 - 12,500 / 12,500

= 0.0388

= 3.88%

3.88% is the annual growth rate for the money market account.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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answer production department;