On Monday, the closing value of a share of stock in Company ABC, was 74.01. On Tuesday, it closed at 73.67, and on Wednesday, it closed at 74.32. On Thursday, the change in stock value was -1.48. And, on Friday, Company ABC's stock gained 0.89 points.One shareholder owns 13 shares of Company ABC's stock. What was the total value of their stock in this company at the close of Tuesday?
Accepted Solution
A:
Answer: [tex]957.71[/tex]Step-by-step explanation:Given: On Monday, the closing value of a share of stock in Company ABC, was [tex]74.01[/tex]. On Tuesday, it closed at [tex]73.67[/tex], and on Wednesday, it closed at [tex]74.32[/tex]. On Thursday, the change in stock value was [tex]-1.48[/tex]. And, on Friday, Company ABC's stock gained [tex]0.89[/tex]points.To Find: One shareholder owns [tex]13[/tex]shares of Company ABC's stock. What was the total value of their stock in this company at the close of Tuesday.Solution:Closing value of Shares of company ABC on Monday [tex]=74.01[/tex]Closing value of Shares of company ABC on Tuesday [tex]=73.67[/tex]Closing value of Shares of company ABC on Wednesday [tex]=74.32[/tex]on Thursday change in stock value was [tex]-1.48[/tex]Closing value of Shares of company ABC on Thursday [tex]=72.84[/tex]on Friday comapny's stock gained [tex]0.89[/tex] pointsClosing value of Shares of company ABC on Friday [tex]=73.73[/tex]As one shareholder owns [tex]13[/tex] shares of companyTotal value of shares on Tuesday is [tex]=\text{number of shares}\times\text{closing stock value on tuesday}[/tex] [tex]=13\times73.67[/tex] [tex]=957.71[/tex]Hence total value of shareholder's share on close of Tuesday is [tex]957.71[/tex]