The original investment in a mutual fund was $ 9,000 . The value of the mutual fund after 1 year was $ 11,670 . Find the increase in value of the investment. Note: Use the formula A = P + I , where A is the value of the investment after 1 year, P is the original investment, and I is the increase in value of the investment.

Question

The original investment in a mutual fund was $ 9,000 . The value of the mutual fund after 1 year was $ 11,670 . Find the increase in value of the investment. Note: Use the formula A = P + I , where A is the value of the investment after 1 year, P is the original investment, and I is the increase in value of the investment. ​

Quizplus · Accepted Answer

To find the increase in value of the investment, we need to subtract the original investment from the value of the investment after 1 year. Using the formula A = P + I, we can rearrange it to get I = A - P.

So, I = $11,670 - $9,000 = $2,670. Therefore, the increase in value of the investment is $2,670, which is given by choice A.

The Original Investment in a Mutual Fund Was $ 9,000