Question

If you bought a stock last year for a price of $142, and it has gone down 7% since then, how much is the stock worth now, to the nearest cent?

Answer 1

Answer:$132.06

Step-by-step explanation:

First find what 1% of the initial value is. To do this move the decimal place to the left two places. Doing this we ind that 1% of $142 = $1.42

Next multiply this value by 7 in order to calculate the 7% change.

Doing this we get $1.42 X 7= $9.94

Finally subtract the $9.94 from the initial value of the stock. In this case you will subtract because the stock's value went down.

Doing this we find that $142-$9.94= $132.06