Cheryl invested 1000$ on monday.each day after that stock increased 1% of original value. on Wednesday she was charged an administrative fee 10$. at the end of each day what will be the graph of each day.
Answers
Answer:
End of Monday - > 1000
End of Tuesday - > 1000+ (0.01)(1000) = 1010
End of Wednesday - > 1010 + (0.01)(1000) - 10 = 1010 (We have to pay the $10 fee, which is reduced from the value of the stock)
End of Thursday = 1010 + (0.01)(1000) = 1020
End of Friday = 1020 + (0.01)(1000) = 1030
Given,
A person named, Cheryl invested 1000$ in stock on Monday.
After that, each day the stock increased by 1% of its original value.
On Wednesday, Cheryl was changed 10$ as an administrative fee.
To Find,
The graph of each day at the end of each day.
Solution,
We can solve this mathematical problem using the following method.
As given she invested 1000$ in stock on Monday.
But the changing started after that day.
So at the end of Monday, the stock price would be, 1000$.
At the end of Tuesday, the stock price would be increased by, 1000×= (0.01)(1000) = 10$. This means then the stock price would be, 1000+10=1010$.
At the end of Wednesday, the stock price would be increased by, 1000×= (0.01)(1000) = 10$. This means then the stock price would be, 1010+10=1020$. But Cheryl was charged 10$ as an administrative fee, which would deduct from the stock price.
This means then the stock price would be, 1020-10=1010$.
In the same approach,
At the end of Thursday = 1010 + (0.01)(1000) = 1020$.
End of Friday = 1020 + (0.01)(1000) = 1030
We know, stock market remains close on Saturday and Sunday, so to make a graph we will consider the above data only.
Hence, the graph will continue to grow upwards, but there will be a little pause on Wednesday, the attached graph.
#SPJ3
