Question

Last year, Heather opened an investment account with $8500. At the end of the year, the amount in the account had increased by 6.6%. How much is this increase in dollars? How much money was in her account at the end of last year?

Answer 1

To find the increase in dollars, we can calculate 6.6% of $8500.

Increase in dollars = 6.6% of $8500
= 0.066 * $8500
= $561

Therefore, the increase in dollars is $561.

To find the total amount in her account at the end of last year, we need to add the increase to the initial amount.

Amount in her account = $8500 + $561
= $9061

Therefore, there was $9061 in her account at the end of last year.