Given:
The investment is $3,150.00.
The loss percent for the first year is 5 %.
The gain percent for the second year is 9 %.
Required:
We need to find the investment amount at end of the second year.
Explanation:
The investment amount at the end of the first year is
[tex]=3150(1-\frac{5}{100})[/tex][tex]=3150(1-0.05)[/tex][tex]=2992.5[/tex]The investment amount at the end of the first year is $2992.5.
The investment amount at the end of the second year is
[tex]=2992.5(1+\frac{9}{100})[/tex][tex]=2992.5(1+0.09)[/tex][tex]=3261.825[/tex][tex]=3261.83[/tex]The investment amount at the end of the second year is $3261.83.
Final answer:
The investment amount at the end of the second year is $3261.83.
