SOLUTION
Step 1 :
I caN
Cheryl Invested $1,000 on Monday.
Each day after that the stock Increased by 1% of Its original value.
On Wednesday she was charged an administrative fee of $10.
CONCLUSION:
End of Monday - > $ 1000
End of Tuesday - > 1000+ (0.01)(1000) = $ 1010
End of Wednesday - > 1010 + (0.01)(1000) - 10 = $1010
(We have to pay the $10 fee, which is reduced from the value of the stock)
End of Thursday = 1010 + (0.01)(1000) = $ 1020
End of Friday = 1020 + (0.01)(1000) = $ 1030
