Question

The price of a share of stock for company THE BEST at the beginning of the week was $24.75. Over the next five days, the stock gained $2.50 on Monday, lost $3.25 on Tuesday, lost $0.75 on Wednesday, gained $1.25 on Thursday, and gained $4.75 on Friday. What was the price of the share of stock at the end of Friday?
A $12.25B $25.75C $29.25D $37.25
Please include calculations

Answer 1

Answer:

Given:

• The price of a share of stock for company THE BEST at the beginning of the week was $24.75.

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• Over the next five days, the stock gained $2.50 on Monday, lost $3.25 on Tuesday, lost $0.75 on Wednesday, gained $1.25 on Thursday, and gained $4.75 on Friday.

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Find:

• What was the price of the share of stock at the end of Friday?

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Calculations:

First week: Overall gain $24.75

New week: $4.5

• Monday: Gain $2.50
• Tuesday: Lost $3.25
• Wednesday: Lost $0.75
• Thursday: Gain $1.25
• Friday = Gain $4.75

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Finding the price for new week:

• $2.50 - $3.25 - $0.75 + $1.25 + $4.75
• $4.5

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Hence, $4.5 is the price end by Friday for new week.

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Overall price gained from the beginning:

• First week + New week •
• $24.75 + $4.5
• $29.25

Hence, $29.25 is the price end by Friday for overall.