Question

As a wedding gift, a couple was given 100 shares of stock worth $27.50 per share. By their first anniversary, the value of the stock had risen by 8 percent. How much more was the stock worth at the end of the year than when the couple first received it?

Answer 1

The shares were worth $ 220 more on the anniversary date than when the couple first received it.

Step-by-step explanation:

Value of shares on wedding date is the number of shares multiplied by its worth.

100 shares @ $ 27.50 $ 2,750

increase over the 1 year period 8 %

Value of shares on anniversary date

100 shares @ 27.5 * 108 % = $ 29.70

Value of shares on anniversary date $ 2,970

Increase in value of shares $ 2,970 -$ 2,750 $ 220