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andre [41]
3 years ago
10

8. Mitchell bought 600 shares of Centerco two years ago $34.50 per share. He sold them yesterday for $38.64 per share.

Mathematics
1 answer:
g100num [7]3 years ago
7 0

Answer:

a. percentage increase in price per share = 12%

b. The total purchase price for the 600 shares is $20,700

c.  The profit for the 600 shares is $2,484

d.  The profit for the 600 shares is $2,484

Step-by-step explanation:

a. Initial price per share    =  $34.50

Current price per share = $38.64

Change or increase in price =  $38.64 - $34.50 = $4.14

percentage increase in price per share = 12/34.50 x 100% = 12%

b. Total number of shares     =  600

    Price                                   =   $34.50

   The total purchase price for the 600 shares = ($34.5x600) = $20,700

c.  Total cost of 600 shares   =  ($34.5x600) = $20,700

     Total revenue from sales =  ($38.64x600) = $23,184

     Profit from the 600 shares = Total selling price - total cost price

                                                  = $23,184 - $20,700 = $2,484

d.  Total cost of 600 shares   =  ($34.5x600) = $20,700

     Total revenue from sales =  ($38.64x600) = $23,184

     Profit from the 600 shares = Total selling price - total cost price

                                                  = $23,184 - $20,700 = $2,484

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