Michael Wittry has been investing in his Roth IRA retirement

Michael Wittry has been investing in his Roth IRA retirement account for 19 years. Five years ago his 5account was worth $1215, 658. After losing 1/3 of its original value it then gained 1/2 of its new value back What is the current value of his Roth IRA? (Do not round intermediate calculations.)

Solution

original worth : $215,658

lost : 1/3*original value
     = (1/3)*$215,658
      = $71,886

new value = $215,658 - $71,886 = $143,772

gained = 1/2 * new value
           = (1/2)*$143,772
           = $71,886

current value = $143,772 + $71,886 = $215,658

Answer: $215,658