Problem

You have an investment of $\$ 1,000$ in a stock. In one year, the stock loses $15 \%$ of its value. What is it worth now? Round your answer to the nearest cent.

Solution

Step 1 :Calculate the value of the stock after losing \(15\%\) of its original value by multiplying the original investment amount by \(0.85\)

Step 2 :\(original\_investment = 1000\)

Step 3 :\(loss\_percentage = 0.15\)

Step 4 :\(current\_value = original\_investment \times (1 - loss\_percentage)\)

Step 5 :\(current\_value = 1000 \times 0.85\)

Step 6 :\(current\_value = 850.0\)

Step 7 :Round the current value to the nearest cent

Step 8 :\(rounded\_value = 850.0\)

Step 9 :\(\boxed{850.00}\)

From Solvely APP
Source: https://solvelyapp.com/problems/gHIzCis1xI/

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