Paula Pruitt invested $4,334 in the stock market. The investment has declined 7% in value. Determine the worth of the investment now
Mathematics · Middle School · Sun Jan 24 2021
Answered on
Given:
Paula Pruitt invested $4,334 in the stock market. The investment has declined 7% in value.
Determine the worth of the investment now.
Solution:
In order to determine the worth of the investment now, we simply needed to take 7% of 4334 and subtract it to 4334. To do so we must multiply 4334 by the decimal value of 7%. In converting a percentage into decimal, divide the percentage by 100, hence in converting a decimal to percentage, multiply the percentage by 100.
= 7/100
= 0.07
= (0.07)($4334)
= $310.38
= $4334 - $310.38
= $4,023.62
Final answer:
The value of the investment now is $4,023.62