You purchased one share of Acme stock for $500 at the beginning of the week. On Monday the stock value increased 8%, then decreased 2% each day on Tuesday, Wednesday, Thursday, and Friday. What’s the value of the shares at the end of the week? Round to the nearest cent.
You purchased one share of Acme stock for $500 at the beginning of the week. On Monday the stock value increased 8%, then decreased 2% each day on Tuesday, Wednesday, Thursday, and Friday. What’s the value of the shares at the end of the week? Round to the nearest cent.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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11. You purchased one share of Acme stock for $500 at the beginning of the week. On Monday the stock value increased 8%, then decreased 2% each day on Tuesday, Wednesday, Thursday, and Friday. What’s the value of the shares at the end of the week? Round to the nearest cent.
12. Explain why the ending price for #11 was not $500 even though there were total gains of 8% and total losses of 8%.
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12. Explain why the ending price for #11 was not $500 even though there were total gains of 8% and total losses of 8%.
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