Answer:
The annual investment rate applied to the investment is 6.23%
Step-by-step explanation:
For finding out the interest rate we will use the Direct Rule of Three, this way:
Value of the investment Percent
$ 610 100
$ 648 x
610x = 64,800
x = 64,800/610
x = 106.23
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Annual investment rate = 106.23 - 100 = 6.23%
