Question

Cheryl invest $1000 on Monday each day after that the stock increase 1% of its original value on Wednesday she was charging administrative fee of $10 grab the value of the stock account at the end of each day

Answer 1

Step 1 :

I caN

Cheryl Invested $1,000 on Monday.

Each day after that the stock Increased by 1% of Its original value.

On Wednesday she was charged an administrative fee of $10.

CONCLUSION:

End of Monday - > $ 1000

End of Tuesday - > 1000+ (0.01)(1000) = $ 1010

End of Wednesday - > 1010 + (0.01)(1000) - 10 = $1010

(We have to pay the $10 fee, which is reduced from the value of the stock)

End of Thursday = 1010 + (0.01)(1000) = $ 1020

End of Friday = 1020 + (0.01)(1000) = $ 1030