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Math Help - percentage question

  1. #1
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    percentage question

    The price of the common shares of SouthCo was valued at $44.28 at the end of 2005, increased by 7.29% in 2006, and overall increased by 6.71% over the two year period 2005/2006. What was the original price of each share at the beginning of 2005?
    For full marks your answer should be rounded to the nearest cent.
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  2. #2
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    Hi there, my interpretation of this question is as follows.

    To find the value of the share price at the end of 2006, simply increase the end of 2005 price by 7.29%.

    Which is 44.28 \times 1.0729 = 47.50801

    Now the increase over the entire 2 years (beginning 2005 to the end of 2006) is 6.71% to reach 47.50801

    so find x where x \times 1.0671 = 47.50801 therefore the price at the start of 2005 would be

    x = \frac{47.50801}{1.0671} = 44.52
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  3. #3
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    thanks!

    thanks pickslides
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