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You purchase 75 shares of stock at $15 per share. The next day the stock drops 3%; however, a week later it increases in value by 7%. If you immediately sell your 75 shares, how much will you gain or lose (a) in dollar amount and (b) in percent?

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Answer:

You have gained $43 and the value increased by 3.8%

Step-by-step explanation:

You would 75 times 15 = $1125

then you would do 1125 times 97% = 1091.25

now you would do 1091.25 times 107% = estimation of 1168

then you would do 1168/1125 which is estimated to 1.038 and you would convert that into a percentage = 103.8%

You would do 1168 - 1125 = $43 and 103.8 - 100 = 3.8%

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