How do you find the price of each share if 700 shares of stock are sold for $55.00 ?
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55/700 = $0.08 per share
More precisely -- the price of each share is $0.0785713
Yes, I copied it correctly. I was wondering too.
Thank you for your help
"Penny stock"
To find the price of each share, you need to divide the total amount of money by the number of shares. In this case, the total amount received from selling 700 shares is $55. To calculate the price per share, divide $55.00 by 700.
Mathematically, it can be expressed as:
Price per share = Total amount / Number of shares
Substituting the given values:
Price per share = $55.00 / 700
Now, let's calculate it:
Price per share = $0.07857
So, the price of each share is approximately $0.07857.