Increase in amount is [tex]\$351[/tex] and money in his account at the end of last year is [tex]\$5751[/tex].
Solution:
Given that
Last year, Justin opened an investment account with [tex]\$5400[/tex].
At the end of the year, the amount in the account had increased by [tex]6.5\%[/tex].
Need to calculate amount increased in account and total amount of money at the end of the year. Invested Amount at the starting of the year AI = 5400
Increase in amount is [tex]6.5\%[/tex]
Amount increased = [tex]6.5\%[/tex] of Invested Amount at the starting of the year
[tex]\begin{array}{l}{=6.5 \% \text { of } A_{I}} \\\\ {=\frac{6.5}{100} \times 5400} \\\\ {=\$ 351}\end{array}[/tex]
Total amount in the end of the year = Invested Amount at the starting of the year + Amount increased = 5400 + 351 = 5751
