Rick invested $10,000 at the beginning of 2016. The performance of his investment was 12% in 2016, -8% in 2017, 5% in 2018, -11% in 2019 and 23% in 2020. What was the value of the investment at the end of 2020? $ (Round to the nearest cent, such as 12345.67)

Entrepreneurial Finance
6th Edition
ISBN:9781337635653
Author:Leach
Publisher:Leach
Chapter13: Other Financing Alternatives
Section: Chapter Questions
Problem 1aM
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Rick invested $10,000 at the beginning of 2016. The performance of his investment was
12% in 2016, -8% in 2017, 5% in 2018, -11% in 2019 and 23% in 2020.
What was the value of the investment at the end of 2020?
$
(Round to the nearest cent, such as 12345.67)
Transcribed Image Text:Rick invested $10,000 at the beginning of 2016. The performance of his investment was 12% in 2016, -8% in 2017, 5% in 2018, -11% in 2019 and 23% in 2020. What was the value of the investment at the end of 2020? $ (Round to the nearest cent, such as 12345.67)
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