Answered

Consider today's stock listing for Rayje Clothiers, shown below.

\begin{tabular}{|c|c|c|c|c|c|}
\hline
52 wk. High & 52 wk. Low & Symbol & Div. & Close & Net Change \\
\hline
225.80 & 169.96 & RA & 2.5 & 200.43 & 13.74 \\
\hline
\end{tabular}

Today, you sold the 459 shares of Rayje Clothiers that you purchased yesterday. How much profit did you make?

A. [tex]$\$[/tex] 13,905.73[tex]$
B. $[/tex]\[tex]$ 8,110.00$[/tex]
C. [tex]$\$[/tex] 5,338.17[tex]$
D. $[/tex]\[tex]$ 6,306.66$[/tex]

Please select the best answer from the choices provided:

A
B
C
D



Answer :

GinnyAnswer
Let's solve this problem step-by-step.

1. Identifying the Initial Purchase Price Per Share:
- The closing price of a share today is [tex]$200.43. - The net change indicates how much the price has increased since yesterday. Given that the net change is $[/tex]13.74, we determine the initial (yesterday's) purchase price by subtracting the net change from today's closing price:
[tex]\[ \text{Initial Purchase Price Per Share} = 200.43 - 13.74 = 186.69 \][/tex]

2. Calculating the Total Purchase Amount:
- You have 459 shares.
- To find the total amount spent to purchase these shares, multiply the initial purchase price per share by the number of shares:
[tex]\[ \text{Purchase Amount} = 186.69 \times 459 = 85690.71 \][/tex]

3. Calculating the Total Selling Amount:
- The shares were sold at today’s closing price of [tex]$200.43 per share. - To determine the total amount received from selling these 459 shares, multiply the selling price per share by the number of shares: \[ \text{Selling Amount} = 200.43 \times 459 = 91997.37 \] 4. Calculating the Profit: - Profit is calculated by subtracting the purchase amount from the selling amount: \[ \text{Profit} = \text{Selling Amount} - \text{Purchase Amount} = 91997.37 - 85690.71 = 6306.66 \] So, the profit made from selling the shares is $[/tex]\[tex]$6,306.66$[/tex].

Among the given choices, the best answer is:
d. \$6306.66