Question

If you bought a stock last year for a price of $129, and it has gone down 5.1% since then, how much is the stock worth now, to the nearest cent?

Answer 1

To calculate the current value of the stock, you multiply its original price by 1 minus the percentage decrease.

Current stock value = $129 * (1 - 0.051)
Current stock value = $129 * 0.949

Rounded to the nearest cent, the stock is worth $122.82 now.