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If you bought a stock last year for a price of
$114, and it has risen
14% since then, how much is the stock worth now, to the nearest cent?
Answer:

If you bought a stock last year for a price of $\$ 114$ , and it has risen $14 \%$ since then, how much is the stock worth now, to the nearest cent? $\newline$ Answer:

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Exponential growth and decay: word problems

Full solution

Q. If you bought a stock last year for a price of

\$ 114

, and it has risen

14 \%

since then, how much is the stock worth now, to the nearest cent?

\newline

Answer:

Convert to Decimal: Determine the percentage increase in decimal form. $\newline$ To convert a percentage to a decimal, divide by $100$ . $\newline$ $14\%$ as a decimal is $\frac{14}{100} = 0.14$ .
Calculate Increase: Calculate the amount of increase on the original price. $\newline$ To find the increase, multiply the original price by the percentage increase in decimal form. $\newline$ Increase = $\$114 \times 0.14$ .
Calculate Increase Amount: Perform the calculation for the increase. $\newline$ Increase = $\$114 \times 0.14 = \$15.96$ .
Add to Original Price: Add the increase to the original price to find the new value of the stock. $\newline$ New value = original price + increase. $\newline$ New value = $\$114$ + $\$15.96$ .
Calculate New Stock Value: Perform the calculation for the new value of the stock. New value = $\$114 + \$15.96 = \$129.96$ .

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