The net change in stock from Monday to Friday is $ 3.2956.
Step-by-step explanation:
Given,
Price of stock on Monday = $ 30.80
On Tuesday, it increased by $1.20 per share.
On Wednesday, it fell by 6.25%
On Thursday, it fell by 4%
On Friday, it increased by 2.5%
To find the net change from Monday to Friday.
Formula:
If the value increased by a% in x, the value will be = x×[tex]\frac{(100+a)}{100}[/tex]
If the value decreased by a% in x, the value will be = x×[tex]\frac{(100-a)}{100}[/tex]
Solution:
Price of stock on Monday = $ 30.80
Price of stock on Tuesday = $ 30.80×1.20 = $ 36.96
Price of stock on Wednesday = $ 36.96×[tex]\frac{(100-6.25)}{100}[/tex]
= $ 34.65
Price of stock on Thursday = $ 34.65×[tex]\frac{(100-4)}{100}[/tex]
= $ 33.264
Price of stock on Friday = $ 33.264×[tex]\frac{(100+2.5)}{100}[/tex]
= $ 34.0956
Hence,
The net change in stock from Monday to Friday is = $(34.0956-30.80)
= $ 3.2956
