16) the millers plan on retiring soon. when they were first married they purchased 1,000 shares in a mutual fund that was at that time paying $10 a share. now, thirty years later it is paying $78 a share. what is the percent increase for the fund? a) 6.8% b) 7.8% c) 78% d) 680%

D

Step-by-step explanation:

1,000 × 10 = $10,000

1,000 × 78 = $78,000

increase ÷ original number x 100

68,000 ÷ 10,000 × 100 = 680

$9.89

step-by-step explanation:

9.90 = p x .06 x .25 (3/12 changed to a decimal)

9.90 = p x 0.015

9.90 - 0.015 = p

9.89 = p

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