Elly buys 75 shares of stock in a mutual fund for a total investment of \$450. She sells 50 shares of her stock for total proceeds of \$400. Determine if Elly made a profit or loss, and how much per share. a. loss of \$0.67 per share b. loss of \$2 per share c. profit of \$0.67 per share d. profit of \$2 per share
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Elly buys 75 shares of stock in a mutual fund for a total investment of \$450. She sells 50 shares of her stock for total proceeds of \$400. Determine if Elly made a profit or loss, and how much per share. Solution: buys 75 shares @ \$450/75 per share, or \$6/share sells 50 shares @ \$400/50 per share, or \$8/share \$8 - \$6 = \$2 profit per share
Question
Updated 11/19/2014 1:52:31 AM
Rating
5
Elly buys 75 shares of stock in a mutual fund for a total investment of \$450. She sells 50 shares of her stock for total proceeds of \$400. Determine if Elly made a profit or loss, and how much per share.
Solution:
buys 75 shares @ \$450/75 per share, or \$6/share
sells 50 shares @ \$400/50 per share, or \$8/share
\$8 - \$6 = \$2 profit per share
Confirmed by jeifunk [11/19/2014 3:03:55 AM]

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