An investment was worth $1000. By the end of 2010 the investment had lost 30%. What percent must the investment grow by in 2011 to be worth $1000 by the end of 2011? Round your answer to the nearest tenth of a percent.

Answer 1

(1000*0.70)(1+r) = 1000
1+r = 1.428
r = .428 = 42.8%