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24 August, 09:29

Say that the economy is in a recession, which is causing the value of gold to fall by three percent. If you have gold reserves which were previously worth $8,590, how much value have you lost as a result of this recession, to the nearest cent?

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  1. 24 August, 11:24
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    Given:

    Value of gold = 8,590

    decrease in value = 3%

    8,590 * 3% = 257.70 amount lost due to recession.

    8,590 - 257.70 = 8,332.30 new value of gold.
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