Question

The price of a share of stock for Nike at the beginning of the week was $24.75. Over the next five days, the share of stock gained $2.50 on Monday, lost $3.25 on Tuesday, lost $0.75 on Wednesday, gained $1.25 on Thursday, and gained $4.75 on Friday. What was the price of the share of stock at the end of Friday? A. $37.25 B. $29.25 C. $12.25 D. $22.50 What is the Answer?

Answer 1

Answer: B. $29.25

Step-by-step explanation:

• In integers loss is represented by negative integers whereas profit is represented by positive numbers.

Given, Beginning price =  $24.75

Over the next 5 days,

On Monday, gain of  $2.50 represented by + $2.50.

On Tuesday, loss of $3.25 represented by - $3.25 .

On Wednesday,  loss of $0.75 represented by - $0.75.

On Thursday, gain of $1.25 represented by + $1.25.

On Friday, gain of $4.75 represented by + $4.75.

Price of the share of stock at the end of Friday = (Beginning price)+ ( + $2.50 - $3.25- $0.75+ $1.25+ $4.75)

= $( 24.75 + 2.50 -3.25 -0.75 +1.25 +4.75)

= $29.25

Hence, the correct option is B. $29.25.