Question

Last year, Kaitlin opened an investment account with $6600. 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

To calculate the increase in Kaitlin's investment account, we can use the formula for percentage increase:

\[
\text{Increase} = \text{Original Amount} \times \left(\frac{\text{Percentage Increase}}{100}\right)
\]

### Step 1: Calculate the increase

Given:
- Original Amount = $6600
- Percentage Increase = 6.5%

Now plug in the numbers:

\[
\text{Increase} = 6600 \times \left(\frac{6.5}{100}\right) = 6600 \times 0.065
\]

Calculating this:

\[
\text{Increase} = 6600 \times 0.065 = 429
\]

### Step 2: Calculate the year-end amount

To find the year-end amount, we add the increase to the original amount:

\[
\text{Year-end Amount} = \text{Original Amount} + \text{Increase} = 6600 + 429
\]

Calculating this:

\[
\text{Year-end Amount} = 6600 + 429 = 7029
\]

### Summary of the Results:

- **Increase in amount:** $429
- **Year-end amount:** $7029