To determine the best day to sell the stocks and to calculate the respective profit, let's go through the steps you would use:
1. Calculate the total cost of the stocks when purchased on Day 1:
- For Unik stock (UNX):
[tex]\[
65 \text{ shares} \times \$8.15 = \$529.75
\][/tex]
- For Cubar stock (C8X):
[tex]\[
50 \text{ shares} \times \$15.65 = \$782.50
\][/tex]
- Total cost on Day 1:
[tex]\[
\$529.75 + \$782.50 = \$1312.25
\][/tex]
2. Calculate the total value of the stocks on Day 2:
- For Unik stock (UNX) on Day 2:
[tex]\[
65 \text{ shares} \times \$8.78 = \$570.70
\][/tex]
- For Cubar stock (C8X) on Day 2:
[tex]\[
50 \text{ shares} \times \$16.92 = \$846.00
\][/tex]
- Total value on Day 2:
[tex]\[
\$570.70 + \$846.00 = \$1416.70
\][/tex]
3. Calculate the total value of the stocks on Day 3:
- For Unik stock (UNX) on Day 3:
[tex]\[
65 \text{ shares} \times \$8.05 = \$523.25
\][/tex]
- For Cubar stock (C8X) on Day 3:
[tex]\[
50 \text{ shares} \times \$14.35 = \$717.50
\][/tex]
- Total value on Day 3:
[tex]\[
\$523.25 + \$717.50 = \$1240.75
\][/tex]
4. Calculate the profit for selling on Day 2 and Day 3:
- Profit on Day 2:
[tex]\[
\$1416.70 - \$1312.25 = \$104.45
\][/tex]
- Profit on Day 3:
[tex]\[
\$1240.75 - \$1312.25 = -\$71.50
\][/tex]
5. Determine which day is the best to sell the stocks:
By comparing the profits:
- Profit on Day 2: \[tex]$104.45
- Profit on Day 3: -\$[/tex]71.50 (a loss)
The best day to sell the stocks is Day 2, with a profit of \[tex]$104.45.
Thus, the best option is:
Day 2 is the best by \$[/tex]104.45.
