Question

Last year Kara opened an investment account with $8600. At the end of the year, the amount in the account had increased by 24.5%. How much is this increase in dollars? How much money was in her account at the end of last year?

Answer 1

`\begin{gathered} i=24.5\text{\%=0.245} \\ C=\text{ \$}8600 \\ \text{Increaing}=(\text{ \$}8600)(\text{0.245}) \\ \text{Increasing}=\text{ \$}2107 \\ It\text{ went up \$2107} \\ Total=\text{\$}8600+\text{ \$2107} \\ \text{Total}=\text{\$}10707 \\ \text{She has \$}10707\text{ at the end of the year} \end{gathered}`