Ed Sloan bought 6,000 shares of stock in Ebay Co. After holding the stock for six months, he sold 500 shares on Monday, 220 shares on Tuesday and again on Thursday, and 900 shares on Friday. If the average share of stock he still has is worth $70 per share, what is the total value of the stock?
A)$306,600
B)$291,200
C)$219,200
D)$360,600
E)None of these

Question

Quizplus · Accepted Answer

Ed Sloan originally had 6,000 shares. He sold 500 + 220 + 220 + 900 = 1,840 shares. Therefore, he still has 6,000 - 1,840 = 4,160 shares. The total value of the stock he still has is 4,160 shares * $70/share = $291,200.

Ed Sloan Bought 6,000 Shares of Stock in Ebay Co