Answer:
The final stock price bought by Luis is $51.01.
Step-by-step explanation:
The initial price of the stock = $67.50
The decrease in the price, next day = $14. 50
So, Price of the stock the next Day = Initial Amount - The reduced Amount
= $67.50 - $14. 50 = $53
or the amount of stock the next day = $53
Now, the new change in price of stock = -3 3/4%
3 3/4% = (3 + 3/4)% = 3.75%
Calculating 3.75% of $53
[tex]\frac{3.75}{100} \times 53 =1.9875[/tex]
or, -3 3/4% is - $1.9875
So, the Final stock price = $53 - $1.9875
= $51.01
Hence, the final stock price bought by Luis is $51.01.
