Jasmin Coleman bought 5,000 shares of GE stock. She held them for 6 months. Then Jasmin sold 190 shares on monay, 450 shares on Tuesday and again on Thursday, and 900 shares on friday. The average shares of stock jasmin still owns is worth $48 per share.
Determine (a) how many shares does Jasmin still own? (b) What is the total value of Jasmin stock after the sales?
On
Actually this is less obvious than it looks. GE's stock split several times, most recently a 3-for-1 split on May 8, 2000. There was a time on June 22, 2000 when the stock price was approximately \$48 (the low for that date was \$47.94). So if she had bought 5000 shares about six months before that date, then sold 190, 450, 450 and 900 shares in June, she would still have 13010 shares, not 3010.
$$5000 - 190 - 450 - 450 -900 = 3010$$ $$3010 * \$48 = \$144480 $$