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Alcoa stock traded at $70 per share. Pete and his partner Al decided to sell 100 shares for a total of $7,000. The stock was
Alcoa stock traded at $70 per share. Pete and his partner Al decided to sell 100 shares for a total of $7,000. The stock was purchased for $65 per share (100$65=$6,500) for a gain of $500. Explain in detail, how would you go about addressing the following questions. 1. Pete invested twice as much as Al in the purchasing of the shares. What does the "formula" for solving this problem look like? 2. . How much should Pete receive and how much should Al receive of the gain? Round to the nearest cent
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