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Tamia owns 225 shares of stock in a toy manufacturing company. The current price of the stock is $27.42 per share. If the price of the stock decreases to $22.49 in the next month, how much did Tamia's shares decrease over the month?

Write your answer as a number, such as: 324.59

Respuesta :

Answer: 1119.25 exact

Step-by-step explanation: Solution

Step 1: Calculate the initial value of Tamia's shares by multiplying the number of shares (225) by the initial price per share ($27.42).

225 * 27.42 = 6179.50

Step 2: Calculate the final value of Tamia's shares by multiplying the number of shares (225) by the final price per share ($22.49).

225 * 22.49 = 5060.25

Step 3: Calculate the decrease in value by subtracting the final value from the initial value.

6179.50 - 5060.25 = 1119.25

Answer: 1119.25 exact

Step-by-step explanation: Solution

Step 1: Calculate the initial value of Tamia's shares by multiplying the number of shares (225) by the initial price per share ($27.42).

225 * 27.42 = 6179.50

Step 2: Calculate the final value of Tamia's shares by multiplying the number of shares (225) by the final price per share ($22.49).

225 * 22.49 = 5060.25

Step 3: Calculate the decrease in value by subtracting the final value from the initial value.

6179.50 - 5060.25 = 1119.25

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