Question

Lucy opened an investment account with $6600. At the end of the year,the amount in thr account had increased by 6.5%

Answer 1

Answer:

Part a) The increase in dollars is $\ 429$

Part b) The amount in Lucy's  account at the end of last year was $\ 7,029$

Step-by-step explanation:

Let

x-----> amount in Lucy's  account at the end of last year

we know that

$100\%+6.5\%=106.5\%$

$106.5\% =\frac{106.5}{100}=1.065$

so

$x=1.065*\ 6,600=\ 7,029$ -----> amount in Lucy's  account at the end of last year

The increase is equal to

$\ 7,029-\ 6,600=\ 429$