Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

show work please A person has $30,000 invested in Almerit and Biomax stocks. Almerit currently sells for $30 a share and Biomax sells for $60

image text in transcribedshow work please

A person has $30,000 invested in Almerit and Biomax stocks. Almerit currently sells for $30 a share and Biomax sells for $60 a share. If Biomax doubles in value and Almerit goes up 50%, then it will be worth $57,000. How many shares of Almerit does this person own? Enter the number only

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 Dark Side Of Valuation

Authors: Aswath Damodaran

3rd Edition

0134854101, 9780134854106

More Books

Students also viewed these Finance questions

Question

Question 1 (a2) What is the reaction force Dx in [N]?

Answered: 1 week ago

Question

is particularly relevant to these issues.)

Answered: 1 week ago