Answer:
The value of the investment on August 1st is $1,512.
Step-by-step explanation:
To find the value of the percentage decreased by the percent of its value, simply subtract a number to a percent. To find the value of the percentage increased by the percent of its value, add a number to the percent. In this case, the value of the investment started with $1,600 and then it decreased by 10%. We can write our equation like this: 1,600 - 10% = ?. Don't think about turning 10% into 0.1. You could do that, but it wouldn't result in the answer as the value decreased by 10%. It would turn out to be 1,599.9 if you did subtract 1,600 by 0.1. It is NOT the value DECREASED by 10%. I think some people would mistakenly go on to that path but please don't. You will NOT recieve an accurate answer. Following the equation, you should get $1,440. That is the investment made during the month of June decreased by 10%.
During the month of July, the value INCREASED by 5%. Similar to the percentage decreased equation, we just turn the subtraction symbol into an addition symbol. Do the same process again but with an addition symbol and the NOW value of $1,440. You should get $1,512 as your final answer. If you are confused about how I got this answer, look at this equation for percentage increased: 1,440 + 5% = ?. If I am wrong, please let me know and I hope this helps! :D
