Question

General Motors stock fell from $41 per share in 2013 to $24.98 per share during 2016. a. If you bought and then sold 300 shares at these prices, what was your loss?

Answer 1

The loss on selling 300 shares of General Motors stock, bought at $41 and sold at $24.98 per share, would be $4,806.

Step-by-step explanation:

If you bought 300 shares of General Motors stock at $41 per share and sold them at $24.98 per share, you can calculate your loss by determining the difference in price and multiplying it by the number of shares.

The difference in price per share from when you bought to when you sold is $41 - $24.98 = $16.02.

You then multiply this price difference by the number of shares to find the total loss: 300 shares × $16.02 per share = $4,806 loss.

Therefore, your loss on selling 300 shares of General Motors stock would be $4,806.