An investor has an account with stock from two different companies. Last year, his stock in Company A was worth $5740 and his stock in Company B was worth $3250. The stock in Company A has increased 25% since last year and the stock in Company B has increased 24%. What was the total percentage increase in the investor's stock account? Round your answer to the nearest tenth (if necessary). Answer:

Question

An investor has an account with stock from two different companies. Last year, his stock in Company A was worth  $5740 and his stock in Company B was worth  $3250. The stock in Company A has increased 25% since last year and the stock in Company B has increased  24%. What was the total percentage increase in the investor's stock account? Round your answer to the nearest tenth (if necessary). Answer:

Bytelearn · Accepted Answer

Calculate Company A Stock Increase: Calculate the new value of the investor's stock in Company A after a 25% increase. New value of Company A stock = Original value + (Original value * Percentage increase) = $5740 + ($5740 * 0.25) = $5740 + $1435 = $7175Calculate Company B Stock Increase: Calculate the new value of the investor's stock in Company B after a 24% increase. New value of Company B stock = Original value + (Original value * Percentage increase) = $3250 + ($3250 * 0.24) = $3250 + $780 = $4030Calculate Total Value Last Year: Calculate the total value of the investor's stock last year. Total value last year = Value of Company A stock last year + Value of Company B stock last year = $5740 + $3250 = $8990Calculate Total Value This Year: Calculate the total value of the investor's stock this year. Total value this year = New value of Company A stock + New value of Company B stock = $7175 + $4030 = $11205Calculate Total Increase: Calculate the total increase in the investor's stock account. Total increase = Total value this year - Total value last year = $11205 - $8990 = $2215Calculate Total Percentage Increase: Calculate the total percentage increase in the investor's stock account. Total percentage increase = (Total increase / Total value last year) * 100% = ($2215 / $8990) * 100% = 0.2463848714163 * 100% = 24.63848714163% Round to the nearest tenth. = 24.6%

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