Problem
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? \( \$ 5,380,000 \) \( \$ 538,000 \) \( \$ 538 \) \( \$ 5380 \)
Solution
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
