Question

Luis bought stock at $50.70. The next day, the price increased $17.75. This new price changed by -3-%

3
4
the following day. What was the final stock price, rounded to the nearest cent? Is your answer reasonable?
Complete the explanation.

Answer 1

Starting price is $50.70.

Next day the price is $50.70 + $17.75 = $68.45

This price then changed by:
`-3(3)/(4)\%=-3.75\%`.

So in order to calculate that we do:
`68.45 - (3.75/100*68.45)=65.883125 =\$65.88`

Therefore final price is $65.88.

Yes, this is reasonable.