You buy 45 shares of See's Candies at $63.12 per share. Unfortunately, the company falls on hard times and you end up selling the stock for $41.20 per share. How much money did you lose? A. $1,854.00

Question

Jaylynn Maldonado

Mathematics

15 August, 05:14

You buy 45 shares of See's Candies at $63.12 per share. Unfortunately, the company falls on hard times and you end up selling the stock for $41.20 per share. How much money did you lose? A. $1,854.00

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Kramer · Answer 1

Step-by-step explanation:

You buy 45 shares of See's Candies at $63.12 per share. The total amount that you spent on buying the shares will be the number of shares that you bought * the price per share. It becomes

Total cost of share = 63.12*45 = $2840.4

You ended up selling the stock for $41.20 per share. This total amount for which you sold the shares is the number of shares sold * the rate at which it was sold. It becomes

Total amount of sold shares = 41.2*45 = $1854

Amount of money lost is

2840.4 - 1854 = $986.4