Three years ago, Anum invested $25,000 in a new mutual fund account. The value of the account increased by 15% during the first year, increased by 7% during the second year, and decreased by 15% during the third year. What is the approximate value of the account today?

Explanation: Initial Investment = $25,000. Year 1: Increase by 15\% (Multiplier 1.15). Year 2: Increase by 7\% (Multiplier 1.07). Year 3: Decrease by 15\% (Multiplier $1 - 0.15 = 0.85$). Final Value = $\text{Initial Investment} \times \text{Multiplier}_1 \times \text{Multiplier}_2 \times \text{Multiplier}_3$. Final Value = $25,000 \times 1.15 \times 1.07 \times 0.85$. Final Value = $25,000 \times (1.15 \times 1.07 \times 0.85)$. $1.15 \times 1.07 \approx 1.2305$. $1.2305 \times 0.85 \approx 1.045925$. Final Value = $25,000 \times 1.045925 \approx 26,148.125$. The approximate value is **$26,000** or **26K**.