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Aliun [14]
3 years ago
15

Leo invests $2,000 loses money at a rate of 4%. How much is the investment worth in total at the end of 3 years? Round to the ne

arest cent.
Mathematics
1 answer:
barxatty [35]3 years ago
5 0

Answer:

<em>Leo's investment is worth $1,760 at the end of 3 years</em>

Step-by-step explanation:

<em>Simple Interest</em>

Leo invests $2,000 and loses money at a rate of 4% (yearly),

It's required to find the value of his money at the end of 3 years.

Since Leo losses 4% per year, the amount lost per year is:

$2,000*4/100=$80

For three years, he loses 3*$80 = $240

Thus, his money is worth:

$2,000 - $240 = $1,760

Leo's investment is worth $1,760 at the end of 3 years

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