In 2008 Melvin thought that he was making a sound investment by buying $100,000 worth of Alpha Biotechnology stock. Unfortunately, his investment has depreciated, losing 13% of its current value each year.
The current value of an invested of $100, 000 that has lost a value of 13% will be: current value in percent=100-13=87% The value of $100,000 investment will be: 87/100*100000 =$87,000
