I bought a stock at $16.50 and sold it at $19. What was the rate of change?
rate of change depends on time. When was it bought, and when was it sold?
rate= changePrice/time
Thanks that is what I thought but there was no time given
To calculate the rate of change, we need to determine the percentage increase from the initial price to the final price. Here's how we can calculate it step by step:
1. Calculate the difference between the final price and the initial price:
$19 - $16.50 = $2.50
2. Calculate the percentage change by dividing the difference by the initial price and multiplying by 100:
($2.50 / $16.50) * 100 = 15.15%
Therefore, the rate of change, or the percentage increase, is 15.15%.