Question

An investor has an account with stock from two different companies. Last year, his stock in Company A was worth $3820 and his stock in Company B was worth $2960. The stock in Company A has increased 15% since last year and the stock in Company B has increased 5%. What was the total percentage increase in the investor's stock account? Round your answer to the nearest tenth (if necessary).

Answer 1

Answer:

10.6%

Step-by-step explanation: Find new values:

3820(1+0.15)=\color{green}{4393}

3820(1+0.15)=4393

2960(1+0.05)=\color{blue}{3108}

2960(1+0.05)=3108

Last Year This Year

Stock A 3820 4393

Stock B 2960 3108

Total 6780 7501

\text{Find overall increase:}

Find overall increase:

6780(1+r)=7501

6780(1+r)=7501

\frac{6780(1+r)}{6780}=\frac{7501}{6780}

6780

6780(1+r)

​

=

6780

7501

​

1+r=1.106342

1+r=1.106342

r=0.106342

r=0.106342

Subtract 1

\text{Final Answer: }10.6\%

Final Answer: 10.6%

Multiply by 100 and round to nearest 10th