John contributed $3,000 to his Roth IRA last year. This year, he contributed $1,000 to his Roth IRA. What was the percent decrease to the nearest percent?

ANSWERS

2015-11-09 01:19:59

Last year contribution (L) = $ 3,000 This year contribution (T) = $ 1,000 Hence, percentage decrease = [latex] frac{T - L}{L} * 100 = frac{1000-3000}{1000} *100 = frac{-2000}{1000}*100 = -2*100 [/latex] = - 200 % The negative sign shows the decrease in the percentage. Hence, the percentage decrease was by 200 %.

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