Question

Last year ,Eric opened an investment account with $8500. At the end of the year , the amount in the account had decreased by 28.4%.how much is this decrease in dollars? How much money was in his account at the end of last year?

Answer 1

Recall that the x% of y can be computed using the following expression:

`y\cdot(x)/(100)\text{.}`

Therefore the 28.4% of 8500 is:

`8500\cdot(28.4)/(100)=2414.`

Then the amount in the account had decreased by $2414.

Therefore there was:

`8500-2414=6086`

dollars in Eric's account at the end of last year.

Answer:

1) $2414.

2) $6086.