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)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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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