Jackie bought a stock for $34 a share. the daily changes for the next 7 days after she bought the stock were -5, -2, +1, +3, -6, +4 and +8. What was the share of stock worth at the end of day 7?
add those changes.
then add (or subtract) from 34
Ok I have a question, does it matter if the integers are from smallest to largest, because I tried both ways and it gives me 2 different numbers.
To calculate the value of the stock at the end of day 7, we need to find the cumulative change in the stock price over the 7 days and then add it to the initial price.
Let's break it down step-by-step:
1. Initial price: Jackie bought the stock for $34 a share.
2. Daily changes:
- Day 1: -5
- Day 2: -2
- Day 3: +1
- Day 4: +3
- Day 5: -6
- Day 6: +4
- Day 7: +8
3. Calculate the cumulative change:
- Cumulative change = -5 - 2 + 1 + 3 - 6 + 4 + 8 = 3
4. Calculate the share of stock worth at the end of day 7:
- The value at the end of day 7 = Initial price + Cumulative change
- Value at the end of day 7 = $34 + 3 = $37
Therefore, the share of stock was worth $37 at the end of day 7.
To find the value of the stock at the end of day 7, you need to calculate the cumulative sum of the daily changes and add it to the initial price of $34.
Let's go step by step:
1. Calculate the cumulative sum of the daily changes:
-5 + (-2) + 1 + 3 + (-6) + 4 + 8 = 3
2. Add the cumulative sum to the initial price of $34:
3 + 34 = 37
Therefore, the share of stock was worth $37 at the end of day 7.