Question
From November to December of 2015, the price per share of BP Oil dropped from $86.25 to $64.25. Exxon shares also dropped from $98.75 to
From November to December of 2015, the price per share of BP Oil dropped from $86.25 to $64.25. Exxon shares also dropped from $98.75 to $82.75.
In November, your rich cousin invested $76,348.75 into a combination of BP and Exxon shares. By December they sold their shares for $62,846.75 losing $13,502 from their investment.
How many of each stock did they purchase?
They purchased ? BP shares and ? Exxon shares.
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Financial Accounting Concepts And Applications
Authors: K. Fred Skousen, James D. Stice, Earl Kay. Stice, W. Steve Albrecht
7th Edition
0538876255, 978-0538876254
