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30 Jul 2018, 01:11
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
82% (01:34) correct
18%
(01:39)
wrong
based on 2048
sessions
History
Date
Time
Result
Not Attempted Yet
The value of Maureen's investment portfolio has decreased by 5.8 percent since her initial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?
A. $7,056.00
B. $14,280.00
C. $15,825.60
D. $16,702.56
E. $17,774.40
(PS07793)
A. $7,056.00
B. $14,280.00
C. $15,825.60
D. $16,702.56
E. $17,774.40
(PS07793)
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22 Sep 2018, 04:24
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Solution
Given:
- • The value of Maureen's investment portfolio has decreased by 5.8 percent since her initial investment in the portfolio
• Her initial investment was $16,800
To find:
- • The current value of the portfolio
Approach and Working:
We can say 5.8% decrease in very close to 6% decrease.
6% can be calculated as 5% + 1%
- • 100% = 16800
• 10% = 1680
• 1% = 168
• 5% = 840
• Hence, 6% = 840 + 168 ~ 1000
So, the present value ~ 16800 – 1000 = 15800
Hence, the correct answer is option C.
Answer: C
30 Jul 2018, 01:52
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Bunuel
The values are so wide spread that I don't hav eto worry about 5.8 take it as 6
so what is \(16800*\frac{6}{100}\) ~ \(1000\)
so our answer ~ \(16800-1000=15800\)
C
