Question

Question #cd5b3

Answer 1

See a solution process below:

Explanation:

The formula for calculating the percent change in a value between two points in time is:

`p = (N - O)/O *100`

Where:

`p` is the percent change - what we are solving for in this problem.

`N` is the New Value - $36.00 per share in this problem.

`O` is the Old Value - $90.00 per share in this problem.

Substituting and solving for `p` gives:

`p = (36 - 90)/90 * 100`

`p = -54/90 * 100`

`p = -5400/90`

`p = -60`

The stock changed by -60% or decreased by 60%.