Question

Luis bought stock at $77.30. The next day, the price increased $13.35. This new price changed by −5 3/4 % the following day. What was the final stock price, rounded to the nearest cent? Is your answer reasonable? Complete the explanation.

Answer 1

58.44

Explanation:

77.30+13.35=90.65

5 3/4=23/4

100-23/4=377/4

new price of stock=377/400×90.65≈85.435625≈85.44