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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?

Answers

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? for GMAT 2023 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 2023 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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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.