You invest $1,000 in a fund. You check your statement at the end of April and you have lost 13%. When the statement for May comes, you see you have gained 13% in May. What is the value of your account? Round to the nearest dollar.

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Answer 1 · 2018-05-17T12:06:08

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In April, you lost

#$1000times0.13 = $130#

Your money at the end of April #=$1000-$130=$870#

In May you gain 13%
#=$870times0.13 = $113.1#

Your money at the end of May

#=$870+$113 = $983#

Your answer is #$983#