Answer:
Nate sold the stock at $53.59.
Step-by-step explanation:
We are given the following in the question:
Cost price if stock = $36.85
Increase in price of stock is given by:
[tex]2 + 40\%(\text{Cost of stock})[/tex]
Putting values, we get,
[tex]2 + \dfrac{40}{100}\times (36.85)\\\\=16.74[/tex]
Thus, the selling prices is given by:
[tex]\text{S.P = C.P + Increased price}\\=36.85 + 16.74\\=53.59[/tex]
Thus, Nate sold the stock at $53.59.
