Question

HELP ME PLEASE ASAP!!!!!: Stock worth $60 a share dropped in value by 20% on Monday. Then, it dropped again by $10 the next Tuesday and, finally, increased by 55% the following Friday. What was the final price of a share?

Answer 1

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