Question

If you bought a stock last year for a price of 103$ and it has risen 1.5% since then how much is in stock now, to to nearest cent

Answer 1

$104.55

Explanation:

To add 1.5% (since it rose 1.5%), we can multiply our original amount by 1.5/100 and add that to our original. Therefore, our answer is 103*1.5/100+103=104.545, rounded to $104.55