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What is the price of TPJ stock in March if it increased by 6% in February and then decreased by 6% in March from its January price of $55.46?

  1. $55.00

  2. $54.00

  3. $55.26

  4. $56.00

The correct answer is: $55.26

To determine the price of TPJ stock in March, we first need to apply the percentage increase for February and then the percentage decrease for March, both based on the January price of $55.46. 1. For February, the stock price increases by 6%. To find out how much this is, we multiply the January price by 6%: \[ \text{Increase} = 55.46 \times 0.06 = 3.3276 \] Adding this increase to the January price gives us: \[ \text{February Price} = 55.46 + 3.3276 = 58.7876 \] 2. Next, we need to calculate the decrease of 6% for March based on the February price of $58.7876. First, we find the amount of the decrease: \[ \text{Decrease} = 58.7876 \times 0.06 = 3.527256 \] Now, subtract this decrease from the February price: \[ \text{March Price} = 58.7876 - 3.527256 = 55.