Question

You purchase $100 shares of stock for $23.95 a share. One year later each share is worth $24.50. Find the profit if you sold at $24.05 a share

Answer 1

The profit if sold at $24.05 would be $10.

Explanation:

To find this, start by finding the difference between the buying and the selling price.

24.05 - 23.95 = 0.10

Now multiply that by the number of shares that you have.

0.10 * 100 = $10