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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. 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
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Asked 11/19/2014 1:02:43 AM
Updated 11/19/2014 1:52:31 AM
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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
Added 11/19/2014 1:52:31 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/19/2014 3:03:55 AM]
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