Question

For four years, Marie invested $3,100 each year in a bank’s stocks. The stocks sold for $42 in 20X1, $55 in 20X2, $43 in 20X3, and $54 in 20X4.

What is Marie’s total investment in this bank? (Omit the "$" sign in your response.)

Answer 1

Marie's total investment in the bank is $601,400.

Step-by-step explanation:

To calculate Marie's total investment in the bank, we need to multiply the amount she invested each year by the price of the stocks for that year, and then sum up the results.

In 20X1, she invested $3,100 and the stocks sold for $42, so her investment for that year is $3,100 * $42 = $130,200.

In 20X2, she invested $3,100 and the stocks sold for $55, so her investment for that year is $3,100 * $55 = $170,500.

In 20X3, she invested $3,100 and the stocks sold for $43, so her investment for that year is $3,100 * $43 = $133,300.

In 20X4, she invested $3,100 and the stocks sold for $54, so her investment for that year is $3,100 * $54 = $167,400.

Adding up all the yearly investments, Marie's total investment in the bank is $130,200 + $170,500 + $133,300 + $167,400 = $601,400.