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If you bought a stock last year for a price of
$24, and it has gone down
7.8% 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 $\$ 24$ , and it has gone down $7.8 \%$ 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

\$ 24

, and it has gone down

7.8 \%

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

\newline

Answer:

Subtract Decrease: Now, we subtract the decrease from the original price to find the current value of the stock. $\newline$ Current Value = Original Price - Decrease $\newline$ = $\$24$ - $\$1.872$ $\newline$ = $\$22.128$ $\newline$ Since we need to round to the nearest cent, the current value of the stock is $\$22.13$ .

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