Question

Last year, Ali opened an investment account with $6200. At the end of the year, the amount in the account had increased by 6.5%. How much is this increase in dollars? How much money was in his account at the end of last year?

Answer 1

Answer: it increased by $403. He ended with $6603

Step-by-step explanation: since he started off with $6200, you would move the decimal over two places (.065) and then multiply 6200 and .065 to get $403.