Question

Last year Ivanna opened a investment account with $7200. At the end of the year the amount had decreased by 7.5%. How much is this decrease in dollars ? How much money was in her account at the end of the year ?

Answer 1

Explanation:

$\begin{gathered} \%\text{ decrease = }\frac{Amount\text{ at end - Amount at beginning}}{Amount\text{ at beginning}} \\ -7.5\%\text{ = }\frac{Amount\text{ at end - 7200}}{7200} \\ Amount\text{ at end = 6660} \end{gathered}$

Amount of decrease in dollars: 7200 - 6660 = 540

Answer:

Dollar amount of decrease: $540

Amount of money in the account at the end of the year: $6660