Question

Hank invests $500.00 in a stock. The first year the stock earns an 8% return on his money. If Hank sells his stock, how much money does he have at the end of year one?

EXPLANATION NOT ANSWER PLS thx

Answer 1

HI!!

Answer 2

to increase a number by \(8\%\) multiply it by \(100\%+8\%=108\%=1.08\)

Answer 3

so in one year
\[500(1.08)\]

Answer 4

540

Answer 5

@misty1212 thank you so much!!! @gokufan22 you don't listen.. I am studying for an exam.. these are not the real questions therefore just answers will not help me