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Learning Goal: I’m working on a economics project and need a sample draft to help me learn.I have attached the worksheets to fill out. I will also attach samples for your reference. Here are the instructions:”You must purchase between $9800 and $9900 worth of stock before Commission, between $9900 and $10,000 after Commission. I will explain this in more detail further below.You will purchase your stock at the closing price on Mon. May 10th and sell it at the closing Price on Fri. May 21st.INSTRUCTIONSSTEP ONE: CHOOSING THE COMPANIES IN WHICH YOU WILL PURCHASE STOCK-Go to Yahoo.com. You do not need to use Yahoo to get your stock prices. Yahoo is the one I use.-You will see a list of categories at the top going across the screen. Click on FINANCE.-You will see a box at the top of the screen that says SEARCH FOR NEWS, SYMBOLS AND COMPANIES, type in the name of the company in which you want to buy stock.-If numerical information comes up, that means the stock is publicly traded. If no numerical information comes up, that means it is not publicly traded.-If the stock is publicly traded, look at the name of the exchange, which appears below the name of the company at the upper left. If it says NYSE or NASDAQ, you can use that stock for the project.-Again, you are purchasing your stock at the closing price on Monday May 10th. To find the closing price for that day, look at the list of options going across the top from left to right. Click on HISTORICAL DATA. You will see five different columns of prices come up. Look at the fourth column from the left, the one that says CLOSE, and find the price that corresponds with May 6th. The dates are on the left side of the screen going from top to bottom, with the most recent days at the top.-If you fall behind, you can use this Historical Data to get the closing price for any day.-The market is open from 6:30 AM to 2:30 PM.-If you want to find the closing price from the previous day, you can scroll down until you see PREV. CLOSE on the left. The price to the right of that is the PREVIOUS DAY’S closing price. So if you are looking at it on a Thursday, that will be Wednesday’s closing price. Do not use the large price at the top, which is the up to the minute price. We are only using closing prices for each day on this project.STEP TWO: PURCHASING YOUR STOCKS-Open the Stock Market Project Purchasing Sheet document below. I will use this as a guide to explain what to do. I will be moving across the sheet from left to right as I explain.1. NAME OF COMPANY, ABBREVIATION, & EXCHANGE-The three companies I chose, with the abbreviations in parentheses were Disney (DIS), Churchill Downs (CHDN), and World Wrestling Entertainment (WWE). For the exchanges, Disney and WWE are on the NYSE, Churchill Downs is on the NASDAQ.2. PRICE PER SHARE AND NUMBER OF SHARES-I used the process in Step One to find the closing prices. I used the prices on May 3rd for this, so do not use these prices on your project if you buy any of the stocks I bought.-The closing price per share for Disney on 5/3 was $184.25, for Churchill Downs it was $208.76, and $54.35 for WWE.-The easiest way to figure out how many shares of each one to buy is to buy 10, 100, or 1000 shares of two of them, and then figure out how many shares to buy of the third stock. In my example, I decided to purchase 10 shares of Churchill Downs, and 10 shares of Disney. Figuring out the costs of those two are very easy. For Churchill Downs, because I bought 100 shares, I just move the decimal two places to the right, making the purchase price $2087.60. For Disney, because I bought 10 shares, I move the decimal one place to the right, making the purchase price $1842.50. I must now figure out how many shares of WWE to buy. The first thing I do is add the purchase prices for Churchill Downs and Disney. So, $2087.60 + $1842.50 = $3930.10. I now have to take the number in the middle of the possible range for my total purchase for all three stocks, which is $9800 to $9900 before Commission. The number in the middle of that range is $9850. I subtract $3930.10 from $9850, which means I have to buy approximately $5919.90 worth of WWE stock. To find out how many Disney shares I need to buy, I divide $5919.90 by the price per share for WWE, which is $54.35. The number I get when I do this is 108.921803127. I round this up to 109. This tells me that I need to buy 109 shares of WWE. Then, to get the exact cost of the WWE stock purchase, I multiple 109 times $54.35. I have to spend $5924.15 on my purchase of WWE stock. Then, I take all three of the purchase prices and add them together to get the total cost of the purchase. $2087.60 + $1842.50 + 5924.15. = $9854.25. This is exactly where I want to be, between $9800 and $9900.PART FOUR: COMMISSION-The commission is what you pay the stock broker to make the purchase for you. It is not part of your investment. The Commission is very easy to figure out. It is 1% of the purchase price of each stock, and when the three commissions are added together, they are 1% of the total investment. To find 1% of the investment, you just move the decimal two places to the left. So, for Disney, which cost $1842.50, the commission is $18.43 (the 2 rounds up to 3 because of the 5 after it). For Churchill Downs, which cost $2087.60, the commission is $20.88 (the 7 rounds up to 8 because of the 6 after it). Finally, for WWE, the purchase price was $5924.15, which makes the commission $59.24. When you add the three commissions together it comes out to $98.55.PART FIVE: PURCHASE PRICEWhen you add the cost of the purchase of all three stocks to the commission for all three stocks, it comes out to $9952.80 Again, this is exactly where I want to be, between $9900 and $10,000 after commission. Once you have done this you subtract the commission from the value of your investment, because this fee is paid to the broker. So the actual value of your investment was the number your had before the commission, which in my case is $9854.25.-I have provided you with a blank sheet which you can print and use to figure out your stock purchases. It is the Stock Market Project Document below. I would suggest using a pencil to do this, so you can erase.STEP THREE: TRACKING YOUR STOCKS-For this part of the instructions, I will be referring to the Stock Market Project Tracking Shee1 below. Please follow along on it as you read this.-There are five columns created at the top of the sheet going from left to right. The first column going down has the dates of the project going in order from top to bottom, beginning with May 10th, and ending with May 21st. You may notice some gaps in the dates. This is because the stock market is closed on Saturday and Sunday, so those dates are skipped.-The second column is for Churchill Downs. In this column you will list, going down, the closing price per share and dollar value of the stock for each day of the project. Again, this is just a sample. These are not from the dates you will be using.So, on Day 1, Churchill Downs’ closing price per share (Price Per Share on the sheet) was $208.76. The dollar value of all my shares of Churchill Downs stock was $2087.60, the same numbers on your purchase sheet. These numbers will change every day. So, on Day 2, Churchill Downs’ closing price per share was $207.36. I then take this new price per share and multiply it by the number of shares of it that I bought, which is 10. The number of shares of each stock you own will remain the same throughout the project. So, 207.36 X 10 = $2073.60 That is the new value of my investment in Disney (Total Value on the sheet), which means I lost almost $100 on the first day on this stock.I did the same thing again for Day 3. The closing price for Churchill Downs on that day was $206.56. I multiply that by the number of shares I have, which is 10, and I get $2065.60. That is my new value for my investment in Disney. I am now down $8 from the previous day and $22 on my investment in this stock.I then repeat the same process every day that I am doing the project.-The third column is for Disney. I will repeat the same process that I went through for Churchill Downs, using the same dates. On Day 1, the closing price for Disney (Price Per Share on the sheet) was $184.25. The value of the investment in Churchill Downs was $1842.50. Those numbers are the same as the ones on your purchase sheet. On Day 2, Disney’s closing price per share was $181.51. I then took that new number and multiplied it by the number of shares I had which was 10. So, $181.51 X 10 = $1815.10. I lost about $27 on the first day owning this stock.On Day 3 I repeated the same process with the new closing price per share, which was $181.10. Multiplying that number by ten shares gives me a dollar value of $1811.00. The value of this stock dropped $4 from the previous day, and it is down $31.50 since I bought it.-The fourth column is for WWE, repeating the same process I went through for the other two stocks. The closing price per share for WWE on Day was $54.35. I purchased 109 shares of this stock, so I multiply $54.35 times 109 to give me a dollar value for my purchase of $5924.15. Again, these numbers are the same as the ones on the purchase sheet. To compute the value on Day 2, I take the new price per share for WWE, which was $55.89, and multiply it by the number of shares I own, which will remain 109 throughout the project. So, $55.89 X 109 = $6092.01. I made about $168 on the first day owning this stock.I then repeat the process using the closing price on Day 3. The new price per share for WWE that day was $54.34. I multiply that new number times the 109 shares I own and get $5923.06 as the dollar value for my investment in WWE. I have a loss of just over $1 on this stock, with the value of my investment in this stock dropping about $169 from the previous day.-The 5th column tracks the overall value of your investment in the three stocks combined. This number no longer has to remain between $9800 and $9900. That was just the range for your purchase. Your investment value will most likely end up going above or below that range. For the first day, the total value (Total Value) on the sheet of the three stocks added together ($2087.60 + $1842.50 + $5924.15 = $9866.50) is $9854.25, the same as it is on the purchase sheet. On Day 2 I repeat the same process but using the new price per shares. I add the three total values (TV) of the individual stocks together ($2073.60 + $1815.10 + $6092.01) which gives me a total value for my investment of $9980.71. I gained a little over $126 on the first day.I then repeat the process again for Day 3, using the new total values, $2065.60 for Churchill Downs, $1811.00 for Disney, and $5923.06 for WWE. The sum of those three numbers is $9799.66. I am down about $181 from yesterday, and $55 overall.-I have provided you with a blank sheet below, the Stock Market Tracking Sheet document to track your stocks. The dates in the first column cover all of the days you will own the stock for the project. You can print it and use it if you need to.”