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5 April, 10:20

As a wedding gift, a couple was given 100 shares of stock worth $27.50 per share. By their first anniversary, the value of the stock had risen by 8 percent. How much more was the stock worth at the end of the year than when the couple first received it?

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  1. 5 April, 10:26
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    The shares were worth $ 220 more on the anniversary date than when the couple first received it.

    Explanation:

    Value of shares on wedding date is the number of shares multiplied by its worth.

    100 shares @ $ 27.50 $ 2,750

    increase over the 1 year period 8 %

    Value of shares on anniversary date

    100 shares @ 27.5 * 108 % = $ 29.70

    Value of shares on anniversary date $ 2,970

    Increase in value of shares $ 2,970 - $ 2,750 $ 220
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