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Chapter 1: Problem 45

Over an 8-year period, Katrina's $$\$ 14,000$$ investment in the stock market increased by \(180 \%\). What was the value of her investment at the end of that period? A. $$\$ 16,520$$ B. $$\$ 25,200$$ C. $$\$ 39,200$$ D. $$\$ 252,000$$

Short Answer

Expert verified
The value of Katrina's investment at the end of the 8-year period was $$\$ 39,200$$.

Step by step solution

01

Calculate the percent increase in investment

To find the increase in investment, we will multiply the initial investment amount by the percent increase. The formula for this is: Increase in investment = (Initial investment × percent increase) / 100 Where, initial investment is $$\$ 14,000$$ and percent increase is \(180 \%\).
02

Calculate the increased amount

Now, we will plug in the values from the exercise into the formula: Increase in investment = (\(14,000 \times 180\)) / 100 Increase in investment = \(2,520,000 / 100\) Increase in investment = $$\$ 25,200$$
03

Calculate the final investment value

To find the final investment value, we simply add the initial investment amount and the increase in investment: Final investment value = Initial investment + Increase in investment Final investment value = $$\$ 14,000 + \$ 25,200$$ Final investment value = $$\$ 39,200$$ Now, let's look at the given options to see which matches our calculated final investment value: A. $$\$ 16,520$$ B. $$\$ 25,200$$ C. $$\$ 39,200$$ D. $$\$ 252,000$$ The correct option is: C. $$\$ 39,200$$

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