Last year, Rita opened an investment account with $8400 . At the end of the year, the amount in the account had decreased by 28.5%. How much is this decrease in dollars? How much money was in her account at the end of last year?

Question

Decrease in amount:

Year-end amount:

Answer 1

To find the decrease in dollars and the year-end amount in Rita's investment account, we can follow these steps:

1. Calculate the decrease in amount: \[ \text{Decrease} = \text{Initial amount} \times \text{Percentage decrease} \] Here, the initial amount is $8400 and the percentage decrease is 28.5% (or 0.285 in decimal).

   \[ \text{Decrease} = 8400 \times 0.285 = 2394 \]

2. Calculate the year-end amount: \[ \text{Year-end amount} = \text{Initial amount} - \text{Decrease} \] \[ \text{Year-end amount} = 8400 - 2394 = 6006 \]

Final Results:

• Decrease in amount: $2394
• Year-end amount: $6006