Question
During the first quarter of 2015, Plains All American Pipeline L.P. (PAA) stock cost $50 per share and was expected to yield 5% per year
During the first quarter of 2015, Plains All American Pipeline L.P. (PAA) stock cost $50 per share and was expected to yield 5% per year in dividends, while Total SA (TOT) stock cost $50 per share and was expected to yield 6% per year in dividends. If you invested a total of $47,500 in these stocks and expected to earn $2,535 in dividends in a year, how many shares of each stock did you purchase?
PAA stock = ______ shares
TOT stock = ______ shares
Step by Step Solution
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Step: 1
Let x be the number of shares of PAA stock and y be the number of shares of TOT stock The total ...Get Instant Access to Expert-Tailored Solutions
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Step: 3
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
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