contestada

Nate bought share of a stock at $36.85. The value of the shares increased by $2 more than 40% when Nate sold them. At what price did Nate sell the stock

Respuesta :

Answer:

Nate sold the stock at $53.59.

Step-by-step explanation:

We are given the following in the question:

Cost price if stock = $36.85

Increase in price of stock is given by:

[tex]2 + 40\%(\text{Cost of stock})[/tex]

Putting values, we get,

[tex]2 + \dfrac{40}{100}\times (36.85)\\\\=16.74[/tex]

Thus, the selling prices is given by:

[tex]\text{S.P = C.P + Increased price}\\=36.85 + 16.74\\=53.59[/tex]

Thus, Nate sold the stock at $53.59.