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Rhonda invested $25,000 in a mutual fund account exactly three years a

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Rhonda invested $25,000 in a mutual fund account exactly three years a [#permalink] New post   24 Sep 2021, 00:03
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Rhonda invested $25,000 in a mutual fund account exactly three years ago. The value of the account increased by 20 percent during the first year and decreased 10 percent during each of the next two years. What is the value of the account today?

(A) $25,750
(B) $25,700
(C) $25,000
(D) $24,300
(E) $24,250
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D
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Re: Rhonda invested $25,000 in a mutual fund account exactly three years a [#permalink] New post   24 Sep 2021, 00:21
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It is great to use multipliers in this kind of question.

\(20\)% increase - multiplier \(1.20\)
\(10\)% decrease - multiplier \(0.90\)

Now for the first year increased by \(20\)% and then for next two years decreased by \(10\)%

Current amount \(= 25000 * 1.20 * 0.90 * 0.90 = 24300\)

Answer D
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Re: Rhonda invested $25,000 in a mutual fund account exactly three years a [#permalink]
24 Sep 2021, 00:21
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