Expert: Stephen King - 10/23/2004

Question
From my book,

On Monday, GM stock opened at 54 3/4 per share and closed up 3/16, on Tue. it closed down 1/8,on Wed. it gained 5/16, on Thur. it fell 1/4, on Fri. there was no change.
What was the closing price on Fri?
What was the percent change for the week?  

Answer
Hello AC.

The closing price would be what the price is after all the ups and downs by the end of the week.  Just add/subtract for up/down, respectively, starting from the opening price.

54 3/4 + 3/16 - 1/8 + 5/16 - 1/4 = 54 7/8

The percent change is just the closing over the opening.

(54 7/8)/(54 3/4) = 439/219 = 2.0046
This translates to a 2% increase.

Steve