Question

If you bought a stock last year for a price of $103, and it has risen 13.5% since then, how much is the stock worth now, to the nearest cent?

Answer 1

The stock worth now, to the nearest cent is  $90.75.

How to find the current worth of stock?

The current worth of stock = initial price of stock+increase in the price of stocks

If you bought stock last year for a price of $103, and it has risen 13.5% since then,

Let X be the worth of stock;

103 ×  100 = (13.5% + 100%) × X

10300 = 113.5X

X = 10300/113.5

X = 90.74889868

X = $90.75

Hence, The stock worth now, to the nearest cent is  $90.75.

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