Question

If you bought a stock last year for a price of $102, and it has gone down 11.8% since then, how much is the stock worth now, to the nearest cent?

Answer 1

Explanation:

Current stock price = $102 - 11.8% of $102.

11.8/100 x 102 = $12.036

Therefore, $102 - $12.036 =$89.964

To the nearest cent = $90.