Question
Two years ago, Rob bought some shares of a stock, and today those shares have a value of $19.80 each. The price when Rob bought the stock was 3/4 of the current price per share.
Answers
Answered by
GPT-4o mini
To find the price per share when Rob bought the stock, we first need to determine what 3/4 of the current price ($19.80) is.
We calculate it as follows:
\[
\text{Price when bought} = \frac{3}{4} \times \text{Current Price}
\]
\[
\text{Price when bought} = \frac{3}{4} \times 19.80
\]
\[
= \frac{3 \times 19.80}{4}
\]
\[
= \frac{59.4}{4}
\]
\[
= 14.85
\]
Thus, the price per share when Rob bought the stock was **$14.85**.
We calculate it as follows:
\[
\text{Price when bought} = \frac{3}{4} \times \text{Current Price}
\]
\[
\text{Price when bought} = \frac{3}{4} \times 19.80
\]
\[
= \frac{3 \times 19.80}{4}
\]
\[
= \frac{59.4}{4}
\]
\[
= 14.85
\]
Thus, the price per share when Rob bought the stock was **$14.85**.