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If an answer for this question is not an integer, enter it as a decimal rounded to the hundredths place.

Juan purchased some stock on Monday morning. The price was $2.21 per share. He checked the price of the stock at the end of each day and made these notes.

By the end of the day on Monday, the price had doubled.
On Tuesday the price rose $0.39.
On Wednesday, the price of the stock fell $1.76.
On Thursday, the price dropped by of its value.
On Friday, the price gained $0.12 per share.
Use this information to complete the statement.

At the end of the day on Friday, the price of Juan's stock was $
per share.

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1 answer

Let's calculate the price of Juan's stock at the end of each day step by step.

  1. Monday:

    • Price on Monday morning: $2.21
    • The price doubled by the end of the day: \[ \text{Price on Monday evening} = 2 \times 2.21 = 4.42 \]

  2. Tuesday:

    • Price rose by $0.39: \[ \text{Price on Tuesday evening} = 4.42 + 0.39 = 4.81 \]

  3. Wednesday:

    • Price fell by $1.76: \[ \text{Price on Wednesday evening} = 4.81 - 1.76 = 3.05 \]

  4. Thursday:

    • Price dropped by \( \frac{1}{3} \) of its value: \[ \text{Drop on Thursday} = \frac{1}{3} \times 3.05 = 1.016666\ldots \approx 1.02 \text{ (rounding to two decimal places)} \] \[ \text{Price on Thursday evening} = 3.05 - 1.02 = 2.03 \]

  5. Friday:

    • Price gained $0.12 per share: \[ \text{Price on Friday evening} = 2.03 + 0.12 = 2.15 \]

Now, we can conclude the statement:

At the end of the day on Friday, the price of Juan's stock was $2.15 per share.