Question

Amanda opened an investment account with 5400 at the end of the year the amount in the account increased by 26.5% how much is this increased by in dollars?How much money was in her account at the end of the year?

Answer 1

She has $6,831 in her account by the end of the year.

Explanation:

Since there was an increase on Amanda's money of 26.5% the sum she'll have at the end of one year is the amount she had plus the increase, since the amount she had is 100% and it got increased in the value mentioned the final amount is 100% + 26.5% = 126.5% of the original amount. We can solve the question as shown bellow:

final amount = (initial amount)*126.5%

final amount = (initial amount)*(126.5/100)

final amount = 5400*1.265 = 6,831

She has $6,831 in her account by the end of the year.