Question

Chiko bought 75 shares of stock at $19.58 per share. He received dividends of

$73.42 during the year. At the end of the year, his stock was valued at $22.14. (Do
not use commas, percentage signs or dollar signs in your answers. Round percentage
answers to the nearest tenth)
What was his total profit?

Answer 1

265.42

Explanation:

The total Chikp paid for the stock was:

(75 shares)*($19.58/share) = $1468.50

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At the end of the year his stock was worth (75 shares)*($22.14/share) = $1660.50

The is a net gain of ($1660.50 - $1468.50) = $192

Add the dividend income to arrive at his total profit for the year:

$192 + $73.42 = $265.42