If you bought a stock last year for a price of $36, and it has gone down 16.6% since then, how much is the stock worth now, to the nearest cent?

Answer:The stock is now worth  of $30.024.Step-by-step explanation:Here, the price of the stock last year =$36The percentage down in the price of stock in a year  = 16.6 %Now, 16.6% of the value of stock  $36  = [tex]\frac{16.6}{100}  \times 36= 5.976[/tex]⇒16.6% of $36 =  $ 5.976Now, the Current Worth of Stock = Stock Value last year - Decrease in the stock price                                                          =  $36 - $ 5.976  = $30.024Hence, the stock is now worth  of $30.024.