Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - Chapter 8 Test - Page 572: 2

Answer

75%

Work Step by Step

Percent are generally used for making a comparison in the changes. If there occurs a change in the quantity, then the percent increase or decrease is calculated. Compute the percent increase in investment using the equation as shown below: \[\begin{align} & \text{Percent increase in investment}=\frac{\text{Amount of Increase}}{\text{Original amount}} \\ & =\frac{\$3500-\$2000}{\$2000}=\frac{\$1500}{\$2000}\\&=0.75\\&=75 percent\end{align}\]
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