You started to plan for your retirement 2 years ago by investing into a individual retirement account (IRA). You deposited $2,520 dollars over the two year period and your money grew to $2,850 over that same period. Determine, by what percent, did your money grow by for the two year period. Round your answer to the nearest percent.
The money increased by $2,850 − $2,520 = $330. Divide the increase by the original deposit: $330 ÷ $2,520 ≈ 0.131, or about 13% when rounded to the nearest percent. The correct choice is c. 13%.
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