you purchase 723 shares of Nike at $47.75 per share and one year later you are ready to sell your 723 shares for the current mar

Question

3 years ago

13

you purchase 723 shares of Nike at $47.75 per share and one year later you are ready to sell your 723 shares for the current mar

ket price of $62.25. did you earn a profit or lose money from this stock sale? how much money did you make or lose? explain how you calculated your answer

Mathematics

1 answer:

Anettt [7] · Answer 1 · 2021-11-30T20:33:28+03:00

The answer to this question is "you gained profit". The amount of money you gain from selling the stocks now is higher compared to the amount you spent a year ago. The amount you gain from the shares is ($62.25) x 723 = $45006.75. The amount you spent last year is ($47.75) x 723 = $34523.25. The difference between the values is $10483.47. Thus, you gained $10483.47.