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A share of stock in the Lofty Cheese Company is quoted at 2514. Suppose you hold 30 shares of that stock, which you bought at 201/a. If you sell your stock at 25"/A, which one of the following statements would be true?
A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, You'll make a profit of $150. Solution: For every stock, you obtain a profit 25 1/4 - 20 1/4 = $5; Profit = 30 ($5) = $150.
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Asked 1/14/2022 3:40:32 AM
Updated 1/14/2022 4:10:26 AM
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A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, You'll make a profit of $150. Solution: For every stock, you obtain a profit 25 1/4 - 20 1/4 = $5; Profit = 30 ($5) = $150.
Added 1/14/2022 4:10:26 AM
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