Cheryl invested 1000$ on monday.each day after that stock increased 1% of original value. on Wednesday she was charged an administrative fee 10$. at the end of each day what will be the graph of each day.
Given,
A person named, Cheryl invested 1000$ in stock on Monday.
After that, each day the stock increased by 1% of its original value.
On Wednesday, Cheryl was charged 10$ as an administrative fee.
To Find,
The graph of each day at the end of each day.
Solution,
We can solve this mathematical problem using the following method.
As given she invested 1000$ in stock on Monday.
But the change started after that day.
So at the end of Monday, the stock price would be, 1000$.
At the end of Tuesday, the stock price would be increased by, 1000×= (0.01)(1000) = 10$. This means then the stock price would be, 1000+10=1010$.
At the end of Wednesday, the stock price would be increased by, 1000×= (0.01)(1000) = 10$. This means then the stock price would be, 1010+10=1020$. But Cheryl was charged 10$ as an administrative fee, which would deduct from the stock price.
This means then the stock price would be, 1020-10=1010$
In the same approach,
At the end of Thursday = 1010 + (0.01)(1000) = 1020$.
End of Friday = 1020 + (0.01)(1000) = 1030
We know, the stock market remains closed on Saturday and Sunday, so to make a graph we will consider the above data only.