Question

Luis bought stock at $50.70. The next day, the price increased $17.75. This new price changed by -3-%
3
4
the following day. What was the final stock price, rounded to the nearest cent? Is your answer reasonable?
Complete the explanation.

Answer 1

Answer:

Starting price is $50.70.

Next day the price is $50.70 + $17.75 = $68.45

This price then changed by: $-3\frac{3}{4}\%=-3.75\%$.

So in order to calculate that we do: $68.45 - (3.75/100*68.45)=65.883125 =\ 65.88$

Therefore final price is $65.88.

Yes, this is reasonable.