Question

During the course of one day, the price of a stock fluctuated between a high of $3 above the previous day's closing price and low of $2 below the previous day's closing price. What was the difference between the high and low prices for that day? Write an expression to represent this situation and then type your answer. *

10 points

Answer 1

Answer: difference= (P + $3) - (P - $2) ;

Difference = $5

Explanation:

Given that :

Price fluctuated at:

High = $3 above previous day's closing price

Low = $2 below previous day's closing price

Difference between the high and low prices for the day:

Let previous day's closing price = p

High = P + $3

Low = P - $2

Hence, expression for the difference (d) between high and low prices equals ;

d = High - Low

d = (P + $3) - (P - $2)

Hence,

d = (P + $3) - (P - $2)

d = P + $3 - P + $2

d = $5