Question

Nate naught shares of a stock at $36.85. The value of the shares increased by $2 more than 40% when Nate sold them. At what price did Nate sell the stock?

Answer 1

Answer:

$ 51.59

Step-by-step explanation:

Nate has shares worth $ 36.85.

He says that the value of these shares increased by $ 2 plus 40% of their original value, therefore the final value would be as follows:

$ 2 + $ 36.85 * 0.40 = $ 2 + $ 14.74 = $ 16.74, was the increase.

The sale value was of this increase plus the original value, therefore:

$ 36.85 + $ 14.74 = $ 51.59

Nate sold the shares at a value of $ 51.59.