Can someone explain to me how to work out this problem and get the right answer? My solutions manual said that the answer was $200, but, I haven't figured out how to get that. Please help! The price of the once high-flying tech stock fell by 22% the week before last and by another 15% (from its new lower price) last week. If the price of the stock is now $132.60 what was it originally (before both price declines)?

200$

Step-by-step explanation:

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there is no points to select.

step-by-step explanation:

yes, gavin is right.

step-by-step explanation:

gavin is correct. 

this problem is about converting 9% per year to how many percent per quarter. the rate is still the same. it only differed in the time period. so, through dimensional analysis,

9% per year  × (1 year / 4 quarters) = 2.25% per quarter

if he was asked to convert 9% per year to how many percent per quarter  compounded quarterly, then you will not simply divide by four. this is because compounding is not linear.

hope this , have a good day. c;