Question

As a wedding gift, a couple was given 100 shares of stock worth $27.50 per share. By their first anniversary, the value of the stock had risen by 8 percent. How much more was the stock worth at the end of the year than when the couple first received it?

Answer 1

Answer:

The shares were worth $ 220 more on the anniversary date than when the couple first received it.

Explanation:

Value of shares on wedding date is the number of shares multiplied by its worth.

100 shares  @ $ 27.50                                                          $ 2,750

increase over the 1 year period                                             8 %

Value of shares on anniversary date                                

100 shares @ 27.5 * 108 %  = $ 29.70              

Value of shares on anniversary date                                   $ 2,970

Increase in value of shares  $ 2,970 -$ 2,750                     $ 220