Question
The 200 shares of General Mills stock bought at $384.38 were sold at $350. Commission is omitted. What would be the loss?
I'm really confused here. I thought I would subtract the two numbers featured above to get the loss. Is there a specific formula I have to use? If so-what is it?
Thanks!
I'm really confused here. I thought I would subtract the two numbers featured above to get the loss. Is there a specific formula I have to use? If so-what is it?
Thanks!
Answers
Ms. Sue
Yes, subtract to find the dollar loss.
Do you need to find the percentage loss?
Do you need to find the percentage loss?
Shannon
Yes-Sorry for the long delay!
I assume I would multiply my answer by 100-but I'm not sure.
I assume I would multiply my answer by 100-but I'm not sure.
Ms. Sue
384.38 - 350 = $34.38 >> dollar loss
100 (34.38 / 384.38) = 8.9% loss
100 (34.38 / 384.38) = 8.9% loss
Shannon
Thank you so much!
I'll be sure to write down the formula for the future!
I'll be sure to write down the formula for the future!