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At the beginning of the day, stock XYZ opened at $3.15. At the end of the day, it closed at $2.87. What is the rate of change of stock XYZ?

Respuesta :

Answer:

-8.9%

Step-by-step explanation:

Answer:

The rate of change is - 8.89 %.

Step-by-step explanation:

Given,

The opening price = $ 3.15,

While closing price = $ 2.87,

Now,

[tex]\text{The rate  of change}=\frac{\text{closing price-opening price}}{\text{opening price}}\times 100[/tex]

[tex]=\frac{2.87-3.15}{3.15}\times 100[/tex]

[tex]=\frac{-0.28}{3.15}\times 100[/tex]

[tex]=-\frac{28}{3.15}=-8.8889\%\approx -8.89 \%[/tex]

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