Mike Smith has the following financial data.
Investment Assets at Year End $475,000 Investment Assets at Beginning of the Year $395,000 Savings Made During the Year by Mike $28,000 Employer Match to Mike’s 401(k) Plan $5,000 Total Assets on Ending Statement of Financial Position $700,000 Gross Income on Income Statement $100,000 Total Assets on Beginning Statement of Financial Position $600,000 Total Liabilities at Beginning of the Year $200,000 Total Liabilities at Year End $180,000 What was Mike’s ROI for the year? (Calculate your answer as a percentage. Type 86 for 86%). Get Finance homework help today