Question

The price of a share of stock for company EFG at the beginning of the week was $35.25. Over the next four days, the share of stock gained $2.50 on Monday, lost $5.50 on Tuesday, gained $1.25 on Wednesday, and lost $2.50 on Thursday. What was the price of the share of stock at the end of Thursday?

a) $31.00
b) $31.50
c) $31.75
d) $32.00

Answer 1

After accounting for the gains and losses throughout the week, the stock price should be $30.00 at the end of Thursday. However, this does not match any of the provided answer choices, indicating a potential mistake in the question or choices.

Step-by-step explanation:

The question pertains to calculating the price of a share of stock for company EFG after several days of gains and losses. We start with the initial price of the stock at the beginning of the week, then account for each day's change in value.

Here is the step-by-step calculation:

• Initial price: $35.25
• Monday's gain: +$2.50
• Tuesday's loss: -$5.50
• Wednesday's gain: +$1.25
• Thursday's loss: -$2.50

Adding these changes to the initial price:

$35.25
+ $2.50
- $5.50
+ $1.25
- $2.50
= $30.00

However, please note there might be an error as none of the given answer choices match the calculated result. The closest answer choice to the calculated price is b) $31.50, but according to the given data, the accurate end-of-Thursday price should be $30.00.