You invested a total of $8,400 in shares of the three stocks at the given prices, and expected to earn $248 in annual dividends. If you purchased a total of 200 shares, how many shares of each stock did you purchase?

Question

Byron Woodard

Business

27 December, 09:10

You invested a total of $8,400 in shares of the three stocks at the given prices, and expected to earn $248 in annual dividends. If you purchased a total of 200 shares, how many shares of each stock did you purchase?

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Answers (1)

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Anabel Calderon · Answer 1

WSR's stock = 100

HCC's stock = 50

SNDK stock = 50

Explanation:

let W = WSR's stock

let H = HCC's stock

let S = SNDK stock

W + H + S = 200

16W + 56H + 80S = 8,400

(16 X 7%) W + (56 X 2%) H + (80 X 2%) S = 1.12W + 1.12H + 1.6S = 248

-1.12 (W + H + S) = - 1.12 x 200

-1.12W - 1.12H - 1.12S = - 224

1.12W + 1.12H + 1.6S = 248

0.48S = 24

S = 24/0.48 = 50

W + H + S = W + H + 50 = 200

W + H = 150

16W + 56H + 80S = 16W + 56H + 4,000 = 8,400

16W + 56H = 4,400

-16 (W + H) = - 16 X 150

-16W - 16H = - 2,400

16W + 56H = 4,400

40H = 2,000

H = 2,000 / 40 = 50

W + H + S = 200

W + 50 + 50 = 200

W + 100 = 200

W = 100