Math Problem Statement
if you bought a stock last year for a price of $53, and it has gone down 8% since then, how much is the stock worth now, rounded to the nearest cent?
Solution
To find the current price of the stock after it has decreased by 8%, we can follow these steps:
- Determine the percentage decrease in the stock price: [ \text{Decrease} = \text{Original Price} \times \
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Math Problem Analysis
Mathematical Concepts
Percentage
Arithmetic Operations
Formulas
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Theorems
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Suitable Grade Level
Grades 6-8