Bill buys a stock that decreases by 20% on the first day, and then on the second day the stock increases by 30% of its value at the end of the first day. What was the overall percent increase in Bill's stock over the two days?
+36916 x = stock price at purchase
down 20 % means 80% left .8x after 20% loss
then up 30% (1.3)(.8x) = final value =1.04 x final value is UP 4%
+36916 x = stock price at purchase
down 20 % means 80% left .8x after 20% loss
then up 30% (1.3)(.8x) = final value =1.04 x final value is UP 4%
