An investor has an account with stock from two different companies. Last year, his stock in Company A was worth $2640 and his stock in Company B was worth $3300. The stock in Company A has decreased 20% since last year and the stock in Company B has decreased 21%. What was the total percentage decrease 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  $2640 and his stock in Company B was worth  $3300. The stock in Company A has decreased 20% since last year and the stock in Company B has decreased  21%. What was the total percentage decrease in the investor's stock account? Round your answer to the nearest tenth (if necessary). Answer:

Bytelearn · Accepted Answer

Calculate Company A Stock: Calculate the new value of the investor's stock in Company A after a 20% decrease. Original value of Company A stock: $2640 Percentage decrease: 20% Decrease in value: $2640 * 0.20 = $528 New value of Company A stock: $2640 - $528 = $2112Calculate Company B Stock: Calculate the new value of the investor's stock in Company B after a 21% decrease. Original value of Company B stock: $3300 Percentage decrease: 21% Decrease in value: $3300 * 0.21 = $693 New value of Company B stock: $3300 - $693 = $2607Calculate Total Original Value: Calculate the total original value of the investor's stock account. Total original value = Value of Company A stock + Value of Company B stock Total original value = $2640 + $3300 = $5940Calculate Total New Value: Calculate the total new value of the investor's stock account. Total new value = New value of Company A stock + New value of Company B stock Total new value = $2112 + $2607 = $4719Calculate Total Decrease: Calculate the total decrease in value of the investor's stock account. Total decrease = Total original value - Total new value Total decrease = $5940 - $4719 = $1221Calculate Total Percentage Decrease: Calculate the total percentage decrease in the investor's stock account. Total percentage decrease = (Total decrease / Total original value) * 100% Total percentage decrease = ($1221 / $5940) * 100% Total percentage decrease = 0.2055 * 100% Total percentage decrease = 20.55% Round to the nearest tenth: 20.6%

Full solution

More problems from Percent of change: word problems

Related topics