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d. What was the value of your shares when you sold on 5/3/99? Show your answer in dollars and cents.

d. What was the value of your shares when you sold on 5/3/99? Show your answer in dollars and cents.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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2) You invested $10,000 in AMZN stock on 9/16/98, purchasing only whole shares at the Close price, and then sold it on 5/3/99. You then used the proceeds of the sale to buy (whole) shares again on 11/14/02 at the Close price. Date 9/16/98 Close Price Amount Available to Invest 84.5 $10,000 Shares Purchased 118 shares *ROUND DOWN 10,000/84.5= 118 shares Amount Invested $9,971 Unspent Cash $29.00 a. How many shares did you buy on 9/16/98? Your answer should be a whole number. b. How much did you spend on 9/16/98? Show your answer in dollars and cents. $9,971.00 c. By what percentage did the Adj. Close price grow from 9/16/98 to 5/3/99? Show your answer as a percentage with two decimal places, e.g., 10.12%. (New-Old)/Old 436.01% d. What was the value of your shares when you sold on 5/3/99? Show your answer in dollars and cents.
Transcribed Image Text:2) You invested $10,000 in AMZN stock on 9/16/98, purchasing only whole shares at the Close price, and then sold it on 5/3/99. You then used the proceeds of the sale to buy (whole) shares again on 11/14/02 at the Close price. Date 9/16/98 Close Price Amount Available to Invest 84.5 $10,000 Shares Purchased 118 shares *ROUND DOWN 10,000/84.5= 118 shares Amount Invested $9,971 Unspent Cash $29.00 a. How many shares did you buy on 9/16/98? Your answer should be a whole number. b. How much did you spend on 9/16/98? Show your answer in dollars and cents. $9,971.00 c. By what percentage did the Adj. Close price grow from 9/16/98 to 5/3/99? Show your answer as a percentage with two decimal places, e.g., 10.12%. (New-Old)/Old 436.01% d. What was the value of your shares when you sold on 5/3/99? Show your answer in dollars and cents.
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