Answer to Question #240352 in Finance for Katie

Question

At the end of the trading day, Texas instruments Inc. closed at $28.84, which was a +5.22% net change from the previous days close what was the approximate close on the previous day?

Answer 1

Volume

The amount or the number of products sold.

At a given location and time period, volume is measured by per hundred increase or decrease in the sales.

Consider the following statements regarding Texas instrument Inc.

The closing price of the present day is

28.84

Since Day24 closing is higher than the April 25.

Assume that the closing price is

105.22%

of the closing as per April 24

Consider the previous day closing price is x.

Hence,

28.84=1.0522*X

28.84 - 1.0522=X

X=27.41

Therefore, Texas instrument Inc closing on April 24 is equal to

27.41