document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=325321>Question 325321</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I purchased 300 shares; I purchased 3 times as many shares of common as I did preferred. Common shares currently have a par of $40, preferred shares cost 3/4 more. What is the per share price of preferred shares? And How much is my total purchase price of all shares? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #232980 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=232980\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> total shares is 300<BR>\n" );
document.write( "x = common<BR>\n" );
document.write( "y = preferred\r<BR>\n" );
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document.write( "purchased 3 times as many common as preferred so:\r<BR>\n" );
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document.write( "x = 3*y\r<BR>\n" );
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document.write( "common have a par of $40.<BR>\n" );
document.write( "preferred cost 3/4 more.\r<BR>\n" );
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document.write( "preferred must cost 1.75 * common which makes the price of the preferred share equal to 70.\r<BR>\n" );
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document.write( "40 + 30 = 70\r<BR>\n" );
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document.write( "preferred is 3/4 more per share than the price of the common.\r<BR>\n" );
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document.write( "3/4 * 40 = 30.\r<BR>\n" );
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document.write( "total purchase price would be calculated as follows:\r<BR>\n" );
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document.write( "x + y = 300<BR>\n" );
document.write( "x = 3*y making this equation:\r<BR>\n" );
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document.write( "3*y + y = 300 which becomes:<BR>\n" );
document.write( "4*y = 300\r<BR>\n" );
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document.write( "divide both sides of the equation by 4 to get:\r<BR>\n" );
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document.write( "y = 75\r<BR>\n" );
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document.write( "since x = 3*y, then x = 225.\r<BR>\n" );
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document.write( "x + y = 300 results in 225 + 75 = 300 which is correct.\r<BR>\n" );
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document.write( "total purchase price of all shares is 225 * 40 + 75 * 70 = 14250\r<BR>\n" );
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document.write( " </SPAN>\n" );
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