MATH HELP FAST PLEASE!?
Ron buys 75 shares in a car company. A year later, he sells the shares for .64 each. The result is a loss of 0.25. How much did Ron pay for each share? State any assumptions you make.
Tagged with: assumptions • car company • share state
Filed under: sell my timeshare
19.11 each share.. is what he paid.
Sale price is 75 x $15.64 = $ 1173
which is $260.25 less than original price, which would be: $1433.25
$1433.25 / 75 = $19.11
1 share is $ 15.64
75 shares = 15.64×75=$1173
When he sold these shares for $1173, he had a total loss of $260.25. That means he bought the shares for 1173+260.25=$1433.25
So, Ron paid for each share = 1433.25/75=$19.11
About the assumptions, I think we are assuming that $260.25 is the total loss.