Question
Last year Ted spent $5,000 to buy shares of Blowhard Inc for $5.10 per share; he spent $1,000 to buy shares of Spin fast Inc
Last year Ted spent $5,000 to buy shares of Blowhard Inc for $5.10 per share; he spent $1,000 to buy shares of Spin fast Inc for $7.50/share, and also bought shares of Knuckle buster Inc for $2.00 /share. Blowhard realized a return of 11% for the year, Spin fast a return of ?15%, and Knuckle bster a return of 4.5%. Ted’s average rate of return for the year was6.5% Determine the number of shares of Knuckle buster in that Ted must have purchased.
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