Question

The stock of Company A gained 5.25% today to $21.05. What was the opening price of the stock in the beginning of the day?

Answer 1

i think the answer is 20$

Answer 2

$20

Explanation:

Easy formula for these problems is new price divided by change in percent as decimal with 1 at begining. So for this problem it is 21.05/1.0525. You can then test your answer by muliply you answer by 1.0525.