Answer:
$58.9
Step-by-step explanation:
In this question, we're going to go step by step to get the final price of the share.
We know that the stock started off as $60 per share, so that would be our starting value.
The stock dropped by 20%, so let's calculate the drop in price.
60 • 0.20 = 12
60 - 12 = 48
On Monday, the value of the stock was $48
On Tuesday, the stock dropped by $10, so calculate that drop as well
48 - 10 = 38
On Tuesday, the stock value is at $38
The stock increased by 55%, so we need to calculate the increase.
38 • 1.55 = 58.9
This means that the final price of the share was $58.9
