SOLUTION: The value of a particular stock dropped from $83 in February to $48 in September. Find the rate of change in the value of the stock

Algebra ->  Numeric Fractions Calculators, Lesson and Practice -> SOLUTION: The value of a particular stock dropped from $83 in February to $48 in September. Find the rate of change in the value of the stock      Log On


   

Question 386828: The value of a particular stock dropped from $83 in February to $48 in September. Find the rate of change in the value of the stock
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
48+=+83%281-r%29%5E8---->48%2F83+=+%281-r%29%5E8 ---->root%288%2C48%2F83%29+=+1-r --->r+=+1+-+root%288%2C48%2F83%29+=+0.0662, to 4 decimal places. Therefore the monthly rate of change in the value of the stock is 6.62%.