SOLUTION: Investments An investor owned 300 shares of an oil company and 250 shares of a movie company. The quarterly dividend from the two companies was $187.50. After the investor sold 120
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Question 1054177: Investments An investor owned 300 shares of an oil company and 250 shares of a movie company. The quarterly dividend from the two companies was $187.50. After the investor sold 120 shares of the oil company and bought an additional 120 shares of the movie company, the quarterly dividend became $211.50.
Find the dividend per share for each stock. Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = the quarterly dividend
from 1 share of the oil company
Let = the quarterly dividend
from 1 share of the movie company
-----------------------------------
(1)
-------------------------------
------------------------------
(2)
------------------------------
Divide both sides of (1) and (2) by
(1)
(2)
------------------------------
Multiply both sides of (1) by
Multiply both sides of (2) by
(1)
(2)
-----------------------------
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
------------------------------
and
(1)
(1)
(1)
(1)
(1)
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The quarterly dividend
from 1 share of the oil company
= $.25
The quarterly dividend
from 1 share of the movie company
= $.45
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check answer:
(1)
(1)
(1)
(1)
and
(2)
(2)
(2)
(2)
OK
