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If you bought a stock last year for a price of
$134, and it has gone down
17.5% 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 $\$ 134$ , and it has gone down $17.5 \%$ 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

\$ 134

, and it has gone down

17.5 \%

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

\newline

Answer:

Determine Percentage Decrease: Determine the percentage decrease in the stock's value. $\newline$ The stock has gone down by $17.5\%$ .
Calculate Decrease: Calculate the decrease in the stock's value. $\newline$ To find the decrease in value, multiply the original price by the percentage decrease. $\newline$ Decrease = Original Price $\times$ (Percentage Decrease / $100$ ) $\newline$ Decrease = $\$134 \times (17.5 / 100)$
Perform Calculation: Perform the calculation from Step $2$ . $\newline$ Decrease = $\$134 \times 0.175$ $\newline$ Decrease = $\$23.45$
Calculate Current Value: Calculate the current value of the stock. $\newline$ Subtract the decrease from the original price to find the current value. $\newline$ Current Value = Original Price - Decrease $\newline$ Current Value = $\$134$ - $\$23.45$
Perform Calculation: Perform the calculation from Step $4$ . $\newline$ Current Value = $\$134$ - $\$23.45$ $\newline$ Current Value = $\$110.55$

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