Chapter 1.6, Problem 4STP

For Exercises $1-5,$ choose the correct letter.

ABC stock sold for $64.50. Four days later, the same stock sold for $47.10. What is the average change per day?

F. $-\$4.35$

G. $-\$3.48$

H. $3.48

I. $4.35

To determine

The average change per day.

Answer to Problem 4STP

The average change per day is -$4.35

Explanation of Solution

Given information: ABC stock sold for $64.50. Four days later, the same stock sold for $47.10.

Calculation:

The selling price for ABC stock = $64.50.

After 4 days, the selling price = $47.10.

The change in 4 days is

$\$(47.10-64.10)=-\$17.40$

$\therefore$ The average change per day is

$-\frac{\$17.40}{4}=-\$4.35$

  $\therefore$ The average change per day = -$4.35.