The net asset value of a mutual fund has decreased from $2,700 on December 31 to $1,330 now. The percent decrease in value is about:
A) 103 percent.
B) 1.03 percent.
C) 0.507 percent.
D) 50.7 percent.
E) 5.07 percent.

Question

Quizplus · Accepted Answer

To find the percent decrease, we need to calculate the difference between the starting and ending values, then divide that difference by the starting value, and finally multiply by 100.

Starting value = $2,700
Ending value = $1,330

Difference = $2,700 - $1,330 = $1,370

Percent decrease = (Difference / Starting value) x 100
= ($1,370 / $2,700) x 100
= 0.507 x 100
= 50.7%

Therefore, the answer is D) 50.7 percent.

The Net Asset Value of a Mutual Fund Has Decreased