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5 November, 15:21

Maurice bought 25 shares of stock at $9.85 per share and sold them for $11.22 per share. (Do not use commas, percentage signs or dollar signs in your answers. Round percentage answers to the nearest tenth) What was his purchase price?

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  1. 5 November, 18:46
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    Solution: 25 * $9.85 = $246.25 purchase price

    25 * $11.22 = $280.5 sale price

    $280.5 - $246.25 = $34.25 profit in dollars

    $34.25 : $246.25 = 0.139 = 13.9% ROI
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