last year, scott opened an investment account with $8800. at the end of the year, the amount in the account…

last year, scott opened an investment account with $8800. at the end of the year, the amount in the account had increased by 6%. (a) fill in the blank to write the year - end amount in terms of the original amount. write your answer as a decimal. year - end amount = ×original amount (b) use your answer in part (a) to determine the year - end amount in scotts account. year - end amount: $

last year, scott opened an investment account with $8800. at the end of the year, the amount in the account had increased by 6%. (a) fill in the blank to write the year - end amount in terms of the original amount. write your answer as a decimal. year - end amount = ×original amount (b) use your answer in part (a) to determine the year - end amount in scotts account. year - end amount: $

Answer

Explanation:

Step1: Calculate the multiplier

If the amount increased by 6%, the multiplier is $1 + 0.06=1.06$. So Year - end amount = $1.06\times$ Original amount.

Step2: Find the year - end amount

The original amount is $8800$. Multiply the original amount by the multiplier: $8800\times1.06 = 9328$.

Answer:

(a) 1.06 (b) 9328