Hello,
the problem that had me was similiar to the following:
A stock starts out at 50.23$ and increases 0.68$ every hour for 8 hours.
How much would 200 of that stock be valued after 8 hours
Anyone?
Please and Thank you
Hello,
the problem that had me was similiar to the following:
A stock starts out at 50.23$ and increases 0.68$ every hour for 8 hours.
How much would 200 of that stock be valued after 8 hours
Anyone?
Please and Thank you
Ok see that would not be correct.
That is simply adding the value of the of the total increases to the original value.
But what was confusing me is that every hour that follows is added to a new value.
For example
1st hour = 50.23$
2nd hour= 50.23 + 0.68= 50.91
3rd hour = 50.91 + 0.68 = 51.59
4th hour 51.59 + 0.68 = etc. etc. etc.
See what im saying?
so what would be a correct formula for this. Never mind the 200 at the end
At the end of hour 1, the price is $50.23+0.68$
At the end of hour 2, the price is $(50.23+0.68)+0.68 = 50.23+2\cdot 0.68$
At the end of hour 3, the price is $(50.23+2\cdot 0.68) + 0.68 = 50.23+3\cdot 0.68$
.
.
.
The price per share after hour 8 is: $(50.23+7\cdot 0.68)+0.68=50.23+8\cdot 0.68$
I'm pretty sure I'm right.