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The value of a share of stock was $30 on Sunday. The profile
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29 Apr 2019, 01:49
29 Apr 2019, 01:49
Expert Reply
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Question Stats:
86% (01:07) correct
13% (01:28) wrong based on 53 sessions
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The value of a share of stock was $30 on Sunday. The profile of the value in the following week was as follows: The value appreciated by $1.2 on Monday. It appreciated by $3.1 on Tuesday. It depreciated by $4 on Wednesday. It appreciated by $2 on Thursday and it depreciated by $0.2 on Friday. On Friday, the stock market closed for the weekend. By what percentage did the value of the share increase in the five days?
(A) 3.2%
(B) 4%
(C) 5.6%
(D) 7%
(E) 10%
(A) 3.2%
(B) 4%
(C) 5.6%
(D) 7%
(E) 10%
Re: The value of a share of stock was $30 on Sunday. The profile
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20 Apr 2020, 14:12
20 Apr 2020, 14:12
Expert Reply
The value of the stock after 5 days is:
30 + 1.2 + 3.1 - 4 + 2 - 0.2
30 + 6.3 - 4.2 = 36.3 - 4.2 = 32.1
We use the percent change formula: Percent Change = (New - Old)/Old x 100. Thus, the stock increased by:
(32.1 - 30)/30 = 2.1/30 = 21/300 x 100 = 21/3 = 7 percent
Answer: D
30 + 1.2 + 3.1 - 4 + 2 - 0.2
30 + 6.3 - 4.2 = 36.3 - 4.2 = 32.1
We use the percent change formula: Percent Change = (New - Old)/Old x 100. Thus, the stock increased by:
(32.1 - 30)/30 = 2.1/30 = 21/300 x 100 = 21/3 = 7 percent
Answer: D
Re: The value of a share of stock was $30 on Sunday. The profile
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07 Jul 2020, 03:26
07 Jul 2020, 03:26
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