In 3 Successive Years the Price of the Common Shares

question 218

Short Answer

In 3 successive years the price of the common shares of Abysmal Resources Ltd. fell 35%, 55%, and 80%, ending the third year at 75 cents.
a) What was the share price at the beginning of the 3-year skid?
b) How much (in dollars and cents) did the share price drop in the third year?

---

Definitions:

US$

U.S. dollars (US$) is the currency of the United States of America and is one of the most widely used currencies in the world for both international and domestic transactions.

Exchange Rate-Adjusted

Referring to prices, earnings, or other financial metrics that have been modified to reflect changes in the currency exchange rate.

One-Gallon Jug

A container with a capacity of one gallon, used to hold liquids.

Exchange Rate

The cost of converting one currency into another currency.