Concept explainers
To find: The closing price of stock per share for the week.
Answer to Problem 6P
The value of the closing price of stock per share for the week is
Explanation of Solution
Given information:
Opening price of the week on Monday is
Calculation:
According to the given information,
The stock is gained on Wednesday and Thursday.
The stock is lost on Monday and Tuesday.
The stock remains unchanged on Friday. Therefore, it would be zero.
The closing price of per share can be calculated as follows:
Substitute
Therefore, the value of the closing price of stock per share for the week after settle the gains and losses is
Conclusion:
Thus, the value of the closing price of stock per share for the week after settle the gains and losses is
Chapter 2 Solutions
Algebra: Structure And Method, Book 1
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