Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A person has $20,000 invested in stock A and stock B. Stock A currently sells for $30 a share and stock B sells for $80

A person has $20,000 invested in stock A and stock B. Stock A currently sells for $30 a share and stock B sells for $80 a share. If stock B triples in value and stock A goes up 50%, his stock will be worth $42,000. How many shares of each stock does he own shares of each stock does he own?

Question. The person owns ______ shares of stock A and _______ shares of stock B.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Global Financial Crisis What Have We Learnt

Authors: Steven Kates

1st Edition

0857934228, 978-0857934222

More Books

Students also viewed these Finance questions