Concept explainers
To calculate:To find the final price of the stock if the starting price was
Answer to Problem 2.2MPS
The final price of the stock is
Explanation of Solution
Given information:
The stock price increased by
Calculation:
Given:
The stock price increased by
The initial price of the stock is
Since, the stock price increased by
the stock price on the first day
Stock price on the first day
The stock price decreased by
the stock price on the second day
Stock price on the second day
The stock price decreased by
the stock price on the third day
Stock price on the third day
Thus, the final price of the stock is
Conclusion:
The final price of the stock is
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