Answer:
The Present worth of Stock is $11.056
Step-by-step explanation:
The price of the stock last year = $124
The reduction in the price of the stock = 5.6%
Now, 5.6% of the Stock value = 5.6% of ($124)
= [tex]\frac{5.6}{100} \times 124 = 6.944[/tex]
⇒5.6% of $124 is $6.944
Now, The Present worth of Stock = The Value of stock last year - The reduction in the stock amount.
= $124 - $6.944
= $11.056
or, The Present worth of Stock = $11.056
