Question

If you bought a stock last year for a price of $124, and it has gone down 5.6% since then, how much is the stock worth now, to the nearest cent?

Answer 1

The Present worth of Stock is $11.056

Explanation:

The price of the stock last year = $124

The reduction in the price of the stock = 5.6%

Now, 5.6% of the Stock value = 5.6% of ($124)

=
`(5.6)/(100) * 124 = 6.944`

⇒5.6% of $124 is $6.944

Now, The Present worth of Stock = The Value of stock last year - The reduction in the stock amount.

= $124 - $6.944

= $11.056

or, The Present worth of Stock = $11.056