Q. If you bought a stock last year for a price of $96, and it has risen 16.6% since then, how much is the stock worth now, to the nearest cent?Answer:
Add Increase to Original Price: Now, we add the increase to the original price to find the current value of the stock.Current value of the stock = Original price + Increase= $96 + $15.936= $111.936Since we need to round to the nearest cent, the current value of the stock is $111.94.
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