You purchased 100 shares of Nike at $47.75 per share. A year later you sell your 100 shares for $62 per share. Did you make a profit or lose money? How much money did you make or lose? Explain how you calculated your answer.
1 Answer
Feb 6, 2018
Yes, you make a profit.
Explanation:
If you multiply 100 by $47.75, you end up buying the shares at $4,775. When you sell them a year later, you calculate how much you earned by multiplying 100 by $62. So you made $6,200.
To find the profit, you subtract what you earned by what you spent.
Therefore, you made a $1,425 profit off the Nike shares.
