Question

Last year, Ryan opened an investment account with $8600. At the end of the year, the amount in the account had decreased by 27.5%. How much is this decrease in dollars? How much money was in his account at the end of last year?

a) What is the decrease in Ryan's investment account in dollars?

$2100
$2350
$2380
$2150

Answer 1

The decrease in Ryan's investment account is $2365. The amount of money in his account at the end of last year was $6235.

Step-by-step explanation:

To calculate the decrease in Ryan's investment account, we need to multiply the initial amount by the percentage decrease. The decrease in dollars is found by multiplying $8600 by 27.5%:

$8600 * 0.275 = $2365

Therefore, the decrease in Ryan's investment account is $2365. To find out how much money was in his account at the end of last year, we subtract the decrease from the initial amount:

$8600 - $2365 = $6235

So, there was $6235 in Ryan's account at the end of last year.