Question

If you bought a stock last year for a price of $92, and it has gone down 4.4% since then, how much is the stock worth now, to the nearest cent?

Answer 1

$87.95

Explanation:

1. multiply the stock (92) time 4.4% (or 0.044)

92*0.044 = 4.048

2. subtract 4.048 from 92

92-4.048 = 87.952

3. Round to the nearest cent (2 in the thousandth place means the 5 stays the same)

87.95