last year, michael opened an investment account with $6600. at the end of the year, the amount in the…

last year, michael opened an investment account with $6600. at the end of the year, the amount in the account had decreased by 7.5%. how much is this decrease in dollars? how much money was in his account at the end of last year? decrease in amount: $ year - end amount: $

last year, michael opened an investment account with $6600. at the end of the year, the amount in the account had decreased by 7.5%. how much is this decrease in dollars? how much money was in his account at the end of last year? decrease in amount: $ year - end amount: $

Answer

Explanation:

Step1: Calculate the decrease amount

The initial amount is $6600$ and the percentage decrease is $7.5%$ or $0.075$ in decimal form. The formula for the decrease amount is $Initial\ amount\times Percentage\ decrease$. So, $6600\times0.075 = 495$.

Step2: Calculate the year - end amount

The year - end amount is the initial amount minus the decrease amount. So, $6600 - 495=6105$.

Answer:

Decrease in amount: $$495$ Year - end amount: $$6105$