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Investment A: A profit of $380$⁢380 on a $3800$⁢3800 investment.Investment B: A profit of $290$⁢290 on a $3900$⁢3900 investment.Step 2 of 3 :  Calculate the percentage of profit for Investment B. Round your answer to the nearest hundredth of a percent.

Question

Investment A: A profit of 380380⁢380 on a 38003800⁢3800 investment.Investment B: A profit of 290290⁢290 on a 39003900⁢3900 investment.Step 2 of 3 :  Calculate the percentage of profit for Investment B. Round your answer to the nearest hundredth of a percent.

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Solution

To calculate the percentage of profit for Investment B, you need to divide the profit by the initial investment and then multiply by 100 to get the percentage.

Here's how you do it:

  1. Divide the profit (290)bytheinitialinvestment(290) by the initial investment (3900). This gives you 0.07435897435897436.

  2. Multiply this number by 100 to convert it to a percentage. This gives you 7.435897435897436.

  3. Round this number to the nearest hundredth of a percent. This gives you 7.44%.

So, the percentage of profit for Investment B is approximately 7.44%.

This problem has been solved

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Calculate the percentage of profit for Investment B. Round your answer to the nearest hundredth of a percent.

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