SOLUTION: Aldo opened an investment account with $6500. At the end of the year, the amount in the account had decreased by 7.4%. How much is this decrease in dollars? How much money was in

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Aldo opened an investment account with $6500. At the end of the year, the amount in the account had decreased by 7.4%. How much is this decrease in dollars? How much money was in      Log On

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Question 1124607: Aldo opened an investment account with $6500. At the end of the year, the amount in the account had decreased by 7.4%.
How much is this decrease in dollars? How much money was in his account at the end of last year?

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
decrease is $6500*0.074 or $481.
That leaves $6019 in the account by subtraction.