Question

Last year, Tom opened an investment account with $6200. At the end of the year, the amount in the account had increased by 24.5%. How much is thisincrease in dollars? How much money was in his account at the end of last year?

Answer 1

`\begin{gathered} 1.)\text{ 6200}\cdot0.245=\text{ \$1519} \\ 2.)6200+1519=7719 \end{gathered}`