Alan purchased 16 shares of company stock for $390.40. A month later, the total value of his shares fell to $291.20. What is the

Question

exis [7]

3 years ago

8

Alan purchased 16 shares of company stock for $390.40. A month later, the total value of his shares fell to $291.20. What is the

current price per share if each share costs the same?

Mathematics

2 answers:

shtirl [24] · Answer 1 · 2022-03-05T05:23:58+03:00

shtirl [24]3 years ago

6 0

I think that the current price for each share would be $18.20 if the total value went down to $291.20.

defon · Answer 2 · 2022-03-05T07:14:51+03:00

defon3 years ago

4 0

So it looks like when Alan initially purchased his company stock, the price per share was $24.40 ($390.40/16).
Being that the stock has fallen, the stock price is now $18.20 ($291.20/16).

Hope this helps.