Question

5) A certain stock opens with a price of $0.59. Over the first three days the stock value increases at an average rate of 50% per day. If this trend continues, how much will the stock be worth in 12 days?

Answer 1

Answer:

In 12 days the stock will be worth $ 76.55.

Step-by-step explanation:

Given that a certain stock opens with a price of $ 0.59, and over the first three days the stock value increases at an average rate of 50% per day, to determine, if this trend continues, how much will the stock be worth in 12 days the following calculation must be performed:

Initial value x rate of increase ^ number of years = X

0.59 x 1.5 ^ 12 = X

0.59 x 129.74 = X

76.55 = X

Therefore, in 12 days the stock will be worth $ 76.55.