Given
Cheryl invested on monday = $ 1000
After monday Stock increased each day = 1%
On wd sehe charged an administrative fee = $10
Find
Value of the stock monetarily
Explanation
According to the question,
the stock amount at the end o each day is
on monday
[tex]\begin{gathered} 1000\times\frac{101}{100} \\ 1010 \end{gathered}[/tex]on tuesday
[tex]\begin{gathered} 1010+\frac{1}{100}\times1000 \\ 1020 \end{gathered}[/tex]on wednesday
[tex]\begin{gathered} 1020+\frac{1}{100}\times1000-10 \\ 1020 \end{gathered}[/tex]Final Answer
Therefore, at the end of each day , the value of the stock monetarily
monday = $1000
tuesday = $1020
wednesday = $020
