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Homework answers / question archive / Lori bought a car for $6700 and her dad helped her fix it up
Lori bought a car for $6700 and her dad helped her fix it up. They spend $710 in parts and did the work themselves. Lori was able to sell the car for $11,700. Lori's return on investment was
Computation of Return on Investment:
Return on Investment = (Sale value - Total investment)/Total investment
Here,
Sale value = $11,700
Total investment = Purchase Price of Car + Cost of Parts = $6,700 + $710 = $7,410
Return on Investment = ($11,700 - $7,410)/$7,410 = 57.89%
