Final answer:
Mrs. Yakichi sold her shares for $25 each, totaling $250. Had she waited until Friday, she would have received $310 for the same number of shares due to the increased stock price to $31 per share.
Step-by-step explanation:
- a. The price per share when Mrs. Yakichi sold her stock was $25 per share.
- b. If she had sold 10 shares on Friday instead of Thursday, she would have received $310.
To find the price per share Mrs. Yakichi received when she sold her 10 shares on Thursday, we simply divide the total amount by the number of shares. Hence, $250 / 10 shares = $25 per share.
If she had waited until Friday to sell her 10 shares, when the price per share had jumped to $31, she would have sold them for $31 x 10 shares = $310 in total. This increase in stock price from $25 to $31 per share indicates a potential for higher earnings had Mrs. Yakichi sold her shares on Friday instead of Thursday.
Understanding the buying and selling of stocks is crucial as it involves computations to determine profits or losses, considering different selling prices and the quantity of shares traded.