FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sarah Myers has $34,000 invested in stock A and stock B. Stock A currently sells for $40 a share and stock B sells for $60

Sarah Myers has $34,000 invested in stock A and stock B. Stock A currently sells for $40 a share and stock B sells for $60 a share. If stock B triples in value and stock A goes up50%, her stock will be worth $78,000. How many shares of each stock does she own?

Sarah 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

Fundamentals Of Matrix Analysis With Applications

Fundamentals Of Matrix Analysis With Applications

Authors: Edward Barry Saff, Arthur David Snider

1st Edition

111895369X, 9781118953693

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Two friends who have just completed an organizational behavior course at another college inform you that employees must fulfill their need for self-esteem and social esteem before they can reach...

Answered: 1 week ago

Question

★★★★★
In 2015, HD had reported a deferred tax asset of $70 million with no valuation allowance. At December 31, 2016, the account balances of HD Services showed a deferred tax asset of $95 million before...

Answered: 1 week ago

Question

★★★★★
=+17. More concepts. For each of the following time series, suggest an appropriate model: a) Weekly stock prices that reveal erratic periods of up and down swings.

Answered: 1 week ago

Question

★★★★★
Yesterday Sanjay sold 1,000 shares of stock that he owned for $45 per share. When he purchased the stock two years ago, Sanjay paid $50 per share. Every three months during the time that he held the...

Answered: 1 week ago

Question

★★★★★
The stock of IMB Computing sells for $52, and last years dividend was $2.10. A flotation cost of 10% would be required to issue new common stock. IMBs preferred stock pays a dividend of $3.30 per...

Answered: 1 week ago

Question

★★★★★
Ivanhoe Capital Ltd. issued 640 $1,000 bonds at 103. After issuance, similar bonds were sold at 97. Assume that Ivanhoe Capital Ltd. follows ASPE and valued the debt component of the instruments...

Answered: 1 week ago

Question

★★★★★
55.Recaud means a)A type of dish b)An alcohol store c)A type of serving bowl d)None of these 56.The chef De party responsible for vegetable preparations are a)Potagers b)Entremetier c)Charcutier...

Answered: 1 week ago

Question

★★★★★
Jan 2. AAA issued extra common stock and collected cash $10,000 Jan 5. AAA purchased an equipment on credit ($3,000) Jan 20. AAA pays back $3,000 in cash to the equipment seller Jan 21. AAA borrowed...

Answered: 1 week ago

Question

★★★★★
The following costs relate to management accounting information for Kite Co for April 20X8. (5 marks) Cost Employee time spent filling in purchase requisition Use of barcodes and scanners to record...

Answered: 1 week ago

Question

★★★★★
Benefits of borrowing. Wilson Motors is looking to expand its operations by adding a second manufacturing location. If it is successful, the company will make $410,000. If it fails, the company will...

Answered: 1 week ago

Question

★★★★★
Vaughn Corporation factors $275,100 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables...

Answered: 1 week ago

Question

★★★★★
11. What is meant by the statement, as observers of social reality, we are always part of this reality?.

Answered: 1 week ago

Question

★★★★★
13. Give four examples of psychological Maginot lines.

Answered: 1 week ago

Question

★★★★★
10. What is meant by the statement, it is the expectation that something will happen that creates actions?.

Answered: 1 week ago

Previous Question Next Question