QUESTION 5
Solve the problem.
A pension fund invests $ \$ 53,800 $ in small cap stocks and earns $ 1 \% $ per year on the investment. How much money is earned per year?
$ \$ 5,380,000 $
$ \$ 538,000 $
$ \$ 538 $
$ \$ 5380 $

Answer

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Answer

x = 538

Steps

Step 1 ：Let the amount earned per year be x. We can express this mathematically as 53800 * 0.01 = x

Step 2 ：538 * 1 = x

Step 3 ：x = 538