Question

Last year, David opened an investment account with $6500. At the end of the year, the amount in the account had increased by 23.8%. How much is this increase in dollars? How much money was in his account at the end of last year?​

Answer 1

The increase is $1547, he has $8047 in his account now.

Explanation:

6500 increase 23.8% =

6500 × (1 + 23.8%) = 6500 × (1 + 0.238) = 8047

8047 - 6500 = 1547