Elementary Algebra

Published by Cengage Learning
ISBN 10: 1285194055
ISBN 13: 978-1-28519-405-9

Chapter 4 - Proportions, Percents, and Solving Inequalities - 4.3 - More on Percents and Problem Solving - Problem Set 4.3: 25

Answer

He would have to sell the stock at 38.64 dollars.

Work Step by Step

We can use the following guideline to solve this problem: Buying price - Price drop = Selling price So, 42.00 - 8% $\times$ 42.00 = Selling price 42.00 - .08 $\times$ 42.00 = Selling price 42.00 - 3.36 = Selling price 38.64 = Selling price He would have to sell the stock at 38.64 dollars.
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