Question

How much was the decrease dollar? How much was in his account the end of last year?

Answer 1

Explanation

We are given the following information:

• Amount at the beginning of an investment = $5500

,

• Percent decrease = 24.6%

We want to determine the decreased amount in dollars and the amount in his account at the end of the year.

We can determine the decreased amount with the formula below:

`Decreased\text{ }amount\text{ }=Percent\text{ }decrease\text{ }* Amount`

Therefore, the decreased amount can be calculated as:

`\begin{gathered} Decreased\text{ }amount=24.6\%*5500 \\ Decreased\text{ }amount=(24.6)/(100)*5500=1353 \end{gathered}`

Hence, the decreased amount is $1353.

At the end of last year, the amount left in his account can be calculated as follows:

Hence, the year-end amount is $4147.