investment question (word problem)

[joshlikescereal]

Consider the following claim made by an investment broker: This product earns an APR of 17% so for every $ you invest you will earn $17 after one year. Is the investment broker correct? explain.

what is this question asking does anyone know? thanks

 

[stapel]

How does your book define "APR"? When you reply, please include the amount invested. (Currently, your post reads "...for every $ you invest"; there is no dollar amount. Please fill that in.)

Thank you.

Eliz.

 

[Denis]

Consider the following claim made by an investment broker: This product earns an APR of 17% so for every $ you invest you will earn $17 after one year. Is the investment broker correct? explain.
what is this question asking does anyone know? thanks

Gee josh...did you not have your cereals this morning?
The question asks: is Honest John The Broker correct?

Obviously he's a crook: it takes $100 to make $17: 100 * .17 = 17

17% APR = Annual Percentage Rate of 17%