you purchased 25 shares of a stock for $27.50 each. three months later, you sold each share for $33.65. a)…

you purchased 25 shares of a stock for $27.50 each. three months later, you sold each share for $33.65. a) how much money did you pay total for the 25 shares? b) how much did you sell the 25 shares for in total? c) what is the absolute change? in other words, how much total money did you earn from buying and selling the shares? d) what is the percentage change in total value?

you purchased 25 shares of a stock for $27.50 each. three months later, you sold each share for $33.65. a) how much money did you pay total for the 25 shares? b) how much did you sell the 25 shares for in total? c) what is the absolute change? in other words, how much total money did you earn from buying and selling the shares? d) what is the percentage change in total value?

Answer

Explanation:

Step1: Calculate purchase total

Multiply number of shares by purchase - price per share. $25\times27.50 = 687.5$

Step2: Calculate selling total

Multiply number of shares by selling - price per share. $25\times33.65=841.25$

Step3: Calculate absolute change

Subtract purchase total from selling total. $841.25 - 687.5=153.75$

Step4: Calculate percentage change

Use the formula $\frac{\text{absolute change}}{\text{purchase total}}\times100%$. $\frac{153.75}{687.5}\times100% = 22.36%$

Answer:

a) $687.5$ b) $841.25$ c) $153.75$ d) $22.36%$