SOLUTION: Pho Lin has investments in EBay and Amazon stock. On March 9, 2007, EBay stock closed at $30.82 per share and Amazon stock closed at $38.84 per share. Pho's stock portfolio was wor
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Question 727810: Pho Lin has investments in EBay and Amazon stock. On March 9, 2007, EBay stock closed at $30.82 per share and Amazon stock closed at $38.84 per share. Pho's stock portfolio was worth $2866.60 at the end of the day. If Pho owns 20 more shares of Amazon stock than EBay stock, how many of each type of stock does she own.
Answer by mbmodak(32) (Show Source): You can put this solution on YOUR website!
let
ebay shares be x nos & each share worth 30.82 or cost of Ebay shares is 30.82*x
then amazon shares which are 20 more than e bay shares shall be x+20
so as Amazon shares are worth 38.84 each , cost of amazon shares is (x+20)*38.84
Total cost of Ebay+Amazon shares is 2866.60 Thus
30.82x+38.84(x+20)=2866.60
30.82x+38.84x+38.84*20=2866.60
69.66x+776.80=2866.60
69.66x=2866.60-776.80
69.66x=2089.80
x=2089.80/69.66 x=30
Thus E bay cost is 30.82*30 & Amazon cost is (30+20)*38.84 & therefore total cost is 942 & amazon cost is 1972 Together =2866.6
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