27 Jun, 2021 02:21 PM

Home school math question.... HELP PLEASE?

A share of sock in the Bree Medical Supply Company is quoted at 35 1/4. Suppose you hold 20 shares of that stock, which you bought at 31 1/2. If you sold your stock at 35 1/4, which of the following would be true? A.) You made a profit of $75.00. B.) You suffered a loss of $75.00. C.) You made a profit of $705.00. D.) You suffered a loss of $630.00. I think it is (A), but im not sure, so any help would be greatly appreciated. :)

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FO
27 Jun, 2021 02:22 PM

You are correct - choice (A) is right.

Here's the math:

35.25 x 20 = $705 sold

31.5 x 20 = $630 bought

Therefore, $705 sold - $630 bought = $75 net profit (cha-ching!)

Sun Bae

HA
27 Jun, 2021 02:22 PM

I believe you are right.