Eloise is planning on retiring soon. When she first began working she invested $1500 in a retirement fund. The percent increase on her investment is 95%. How much does she have in the account now?

Answer 1

To find out how much Eloise has in her retirement account now, we need to calculate the 95% increase on her initial investment.

Step 1: Calculate the amount of the increase
95% of $1500 = 0.95 x $1500 = $1425

Step 2: Add the increase to the initial investment
$1500 + $1425 = $2925

Therefore, Eloise has $2925 in her retirement account now.

Answer 2

Or just
1.95 * 1500 = 2925

Answer 3

Yes, that's correct as well. Multiplying the initial investment by 1.95 (which is 100% + 95% increase) gives the same answer as adding the amount of increase to the initial investment.