Question

Last year, Justin opened an investment account with $5400. At the end of the year, the amount in the account had increased by 6.5%. How much is this increase in dollars? How much money was in his account at the end of last year?

Answer 1

Answer:

$351 and $5751

Step-by-step explanation:

Given, Justin opened an investment account with $5400. At the end of the year, 6.5% increased. So, the total increase in the dollar is 5400* 0.065 = 351. The increase in the dollar is $364.

At the end of the year, Justin will have 5400 + 351 = $5,751. So, Justin will have $5,751 at the end of the year in his investment bank account.

Answer 2

Answer:

$351

$5,751

Step-by-step explanation:

Justin opened an investment account with $5400.

At the end of the year, the amount in the account had increased by 6.5%.

So,

$5,400 - 100%

$x - 6.5%

Write a proportion:

$\dfrac{5,400}{x}=\dfrac{100}{6.5}$

Cross multiply:

$100x=5,400\cdot 6.5\\ \\x=54\cdot 6.5\\ \\x=\ 351$

Justin's increase in dollars is $351.

In his account at the end of the year was

$\ 5,400+\ 351=\ 5,751$