Answered

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Pretend that you buy a $200 dollar stock. If the price goes up 10% on Monday, 5% on Tuesday, and 7% on Wednesday, how much is the stock worth now?

Sagot :

Answer:

The stock is now worth $247.17.

Explanation:

The initial worth of the stock = $200

If the price goes up 10% on Monday:

[tex]\begin{gathered} \text{The worth of the stock on Monday}=\frac{110}{100}\times200 \\ =\$220 \end{gathered}[/tex]

If the price goes up 5% on Tuesday:

[tex]\begin{gathered} \text{The worth of the stock on Tuesday}=\frac{105}{100}\times220 \\ =\$231 \end{gathered}[/tex]

If the price goes up 7% on Wednesday:

[tex]\begin{gathered} \text{The worth of the stock on Wednesday}=\frac{107}{100}\times231 \\ =\$247.17 \end{gathered}[/tex]

The stock is now worth $247.17.

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