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College Algebra

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Tina invested $30,000 in a stock. In the first year, the stock increased in value by 10%. In the second year, the stock decreased in value by 20%. What percentage gain is requird in the third year for Tina's stock to return to its original value?

  • College Algebra - ,

    Let x be the factor by which the value changes in the third year. If you end up with the same amount after three years,

    1.1 * 1.2 * x = 1

    x = 0.7576
    That would require a 24.24% LOSS in the third year

  • College Algebra - ,

    13.6%

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