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The value of Maureen's investment portfolio hasdecreased by 5.8 percent since herinitial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?
  • a)
    $7,056.00
  • b)
    $14,280.00
  • c)
    $15,825.60
  • d)
    $16,702.56
  • e)
    $17,774.40
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
The value of Maureens investment portfolio hasdecreased by 5.8 percent...
Given:
Maureen's investment portfolio has decreased by 5.8% since her initial investment of $16,800.

To find:
The current value of the portfolio.

Solution:
Let's first find the amount of decrease in the portfolio:
Decrease = 5.8% of $16,800
Decrease = (5.8/100) x $16,800
Decrease = $972

Now, we can find the current value of the portfolio:
Current value = Initial investment - Decrease
Current value = $16,800 - $972
Current value = $15,828

Therefore, the current value of Maureen's investment portfolio is $15,825.60, which is option C.
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Community Answer
The value of Maureens investment portfolio hasdecreased by 5.8 percent...
Maureen’s initial investment was $16,800, and it has decreased by 5.8%. Its current value is therefore (100% - 5.8%) = 94.2% of $16,800, which is equal to 0.942 x $16,800. To make the multiplication simpler, this can be expressed as $(942 x 16.8). Thus multiplying, we obtain the result of $15,825.60.
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The value of Maureens investment portfolio hasdecreased by 5.8 percent since herinitial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?a)$7,056.00b)$14,280.00c)$15,825.60d)$16,702.56e)$17,774.40Correct answer is option 'C'. Can you explain this answer?
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The value of Maureens investment portfolio hasdecreased by 5.8 percent since herinitial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?a)$7,056.00b)$14,280.00c)$15,825.60d)$16,702.56e)$17,774.40Correct answer is option 'C'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about The value of Maureens investment portfolio hasdecreased by 5.8 percent since herinitial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?a)$7,056.00b)$14,280.00c)$15,825.60d)$16,702.56e)$17,774.40Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The value of Maureens investment portfolio hasdecreased by 5.8 percent since herinitial investment in the portfolio. If her initial investment was $16,800, what is the current value of the portfolio?a)$7,056.00b)$14,280.00c)$15,825.60d)$16,702.56e)$17,774.40Correct answer is option 'C'. Can you explain this answer?.
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