SOLUTION: An investor has an account with stock from two different companies. Last year, his stock in Company A was worth $6100 and his stock in Company B was worth $6480. The stock in Compa
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Question 1171348: An investor has an account with stock from two different companies. Last year, his stock in Company A was worth $6100 and his stock in Company B was worth $6480. The stock in Company A has decreased 2% since last year and the stock in Company B has decreased 10%. What was the total percentage decrease in the investor's stock account? Round your answer to the nearest tenth (if necessary).
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
investment in stock A = 6100
investment in stock B = 6480
investment A stock went down 2% meaning it is now worth .98 * what it was worth last year.
investment B stock went down 10% meaning it is now worth .90 * what it was worth last year.
investment in stock A and B are now worth...
6100 * .98 = 5978
6480 * .90 = 5832
the total investment in both stock A and B is now worth...
5978 + 5832 = 11810
the total investment in both stock A and B last year was worth...
6100 + 6480 = 12580
divide this year's total by last year's total to get:
11810 / 12580 = .9387917329
multiply by 100 to get 93.87917329%
round to 1 decimal place to get 93.9%.
the overall investment is worth 93.9% of what it was last year.
that's a drop of 100% - 93.9% = 6.1%.
that should be your answer.
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