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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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  1. 27 December, 09:40
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    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
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