If you bought a stock last year for a price of $67, and it has risen 12% since then, how much is the stock worth now, to the nearest cent?

Question

If you bought a stock last year for a price of $67, and it has risen 12% since then, how much is the stock worth now, to the nearest cent?

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Josephine 1 week 2021-09-15T01:17:29+00:00 1 Answer 0

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    2021-09-15T01:18:39+00:00

    Answer:

    The stock is worth $75.04 now.

    Step-by-step explanation:

    This question can be solved using a rule of three.

    Last years’ value was $67, which is 100% = 1.

    Now, the value is x, and it is a rise of 12%, so it is 100+12 = 112% = 1.12.

    Then

    $67 – 1

    $x – 1.12

    x = 67*1.12 = 75.04

    The stock is worth $75.04 now.

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