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Luis bought stock at $50.70. The next day, the price increased $17.75. This new price changed by -3-%
3
4
the following day. What was the final stock price, rounded to the nearest cent? Is your answer reasonable?
Complete the explanation.

Luis bought stock at 5070 The next day the price increased 1775 This new price changed by 3 3 4 the following day What was the final stock price rounded to the class=

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Susurrus

Answer:

Starting price is $50.70.

Next day the price is $50.70 + $17.75 = $68.45

This price then changed by: [tex]-3\frac{3}{4}\%=-3.75\%[/tex].

So in order to calculate that we do: [tex]68.45 - (3.75/100*68.45)=65.883125 =\$65.88[/tex]

Therefore final price is $65.88.

Yes, this is reasonable.

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