Answer:
11%
Explanation:
The returns on an investment can be calculated as:
[tex]r=\frac{I}{P}\cdot 100[/tex]
where:
r is the return
I is the interest earned in the investment
P is the principal (the amount of money invested)
In this problem for Ivy, we have:
P = $5,000 (amount invested by Ivy)
I = $550 (interest earned by Ivy)
Therefore, the return on the investment is:
[tex]r=\frac{550}{5000}\cdot 100 = 0.11\cdot 100 = 11\%[/tex]
