Question

Last year, Lena opened an investment account with $8800. 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 her account at the end of last year?

Increase in amount:

Year-end amount:

Answer 1

The 6.5% increase in dollars is $572.

The total amount in her account at the end of the year is $9372.

Given,

She opened an Investment account with $8800.

Increased by 6.5% at the end of the year.

We need to find out how much is 6.5% increase is.

We also need to find the amount of money in her account at the end of last year.

We have,

$8800

6.5% increased.

Find 6.5% of $8800.

= 6.5/100 x 8800

= 6.5 x 88

= $572

The amount of money in her account at the end of the year:

= Investment money + 6.5% increased amount

= $8800 + $572

= $9372

Thus

6.5% increase is $572.

The amount of money in her account at the end of the year is $9372.

Learn more about the increase in amount with a certain percentage here:

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