Jim starts with $80 in his investment portfolio. After 1 year it grows by 15%. He then adds another $28 to his portfolio. After 1 more year the combined portfolio grows by 10%. What is his final portfolio worth after 2 years from when he started?
After 1 year Jim has gained $80 * 0.15 = $<T>multiply(80, 0.15)=12.0
Therefore, after 1 year his portfolio has grown to $80 + $12 = $<T>add(80, 12)=92
He then adds $28 to this total, so his new portfolio total is $92 + $28 = $<T>add(92, 28)=120 at the beginning of year 2
Next, this total grows by 10%, so he gains $120 * 0.10 = $<T>multiply(120, 0.1)=12.0 across year 2
Thus, after year 2, his portfolio is worth $120 + $12 = $<T>add(120, 12)=132
