Answered

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8. Elliott purchased shares of Microsoft in 2008
for [tex]$28 per share. He plans to sell them as
soon as the price rises 20%. At what price will
he sell his shares?
a. $[/tex]25.76
b. [tex]$[/tex]28.56
c. [tex]$33.60
d. $[/tex]22.40

Sagot :

GinnyAnswer
To find the price at which Elliott will sell his shares after a 20% increase, follow these steps:

1. Identify the initial share price:
Elliott purchased shares at [tex]$28 per share. 2. Determine the percentage increase: The share price needs to rise by 20%. 3. Convert the percentage increase to a decimal: 20% can be written as 0.20 in decimal form. 4. Calculate the increase in share price: Multiply the initial share price by the percentage increase: \[ \text{Increase in price} = 28 \times 0.20 = 5.6 \] 5. Add the increase to the initial price to get the selling price: \[ \text{Selling price} = 28 + 5.6 = 33.6 \] Therefore, Elliott will sell his shares at the price of $[/tex]33.60. The correct answer is:

c. $33.60
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