Stock worth $40 a share dropped in value by 10% on Monday. Then, it dropped again by $10 the next Tuesday and, finally, increased by 45% the following Friday. What was the final price of a share?
$(40*0.90-10)*1.45 = $37.70
me not know mafs
37.70 would be the correct answer.
eer
To find the final price of a share, we need to follow these steps:
1. Calculate the 10% drop on Monday: Since the stock dropped by 10%, we can multiply the initial price ($40) by 0.10 to find the amount of the drop.
$40 * 0.10 = $4
Subtracting the drop from the initial price gives us the new price after Monday:
$40 - $4 = $36
2. Calculate the $10 drop on Tuesday: Subtracting $10 from the price after Monday ($36) gives us the new price after Tuesday:
$36 - $10 = $26
3. Calculate the 45% increase on Friday: To find the increase, multiply the price after Tuesday ($26) by 0.45:
$26 * 0.45 = $11.70
Adding the increase to the price after Tuesday gives us the final price:
$26 + $11.70 = $37.70
Therefore, the final price of a share is $37.70.