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intial value = 30,000
final value = 31,590
30,00 ( 1 + x) = 31,590
Solve for x ( increase in decimal form)
30,000+ 30,000x = 31,590
30,000x = 31,590-30,000
30,000x =1,590
x= 1,590/30,000
x= 0.053
Multiply by 100
0.053 x 100= 5.3%