Dave is sitting with his friend Bob and he tells Bob he is going to propose to h
ID: 2723024 • Letter: D
Question
Dave is sitting with his friend Bob and he tells Bob he is going to propose to his girlfriend in the next few weeks. He also tells Bob that he recently found a stock certificate that was given to him on his 1st birthday, which was 1/11/82. The Stock certificate is for 400 shares of Home Depot Stock. He looked at the recent stock price and decided to “sell it all, and bring me a check” Bob being a stockbroker said that he would comply with Dave’s wishes and immediately sell the shares that Dave owned. Bob called the on April 15, 2016 and told Dave that the sale had been completed. You may disregard dividends in any / all calculations. Please use finance.yahoo.com as your source of information to answer the following questions:
What was the selling price per share when Bob sold on 4/15/16
How much was the gain / loss on the stock sale?
What was the total amount Dave had to spend on an engagement ring?
Explanation / Answer
Purchase price on 1/11/82 = $32.75
Selling Price on 4/15/16= $135.01
Gain On the stock sale= 135.01-32.75
Gain On the stock sale=102.26
Total amount =135.01*400
The total amount Dave had to spend on an engagement ring=$54004
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