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Question 132131: An investor buys 3 types of stock (A,B, and C) for a total price of $2750. Stock A costs $3.00 per share and both stocks B and C cost $2.50 per share. The investor buys a combined 600 shares of A and B. A combined 900 shares of A and C are bought. How many shares of each stock were bought?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An investor buys 3 types of stock (A,B, and C) for a total price of $2750. Stock A costs $3.00 per share and both stocks B and C cost $2.50 per share.
The investor buys a combined 600 shares of A and B.
A combined 900 shares of A and C are bought.
How many shares of each stock were bought?
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Value equation:
3a + 2.5b + 2.5c = 2750
a + b + 0 = 600
a + 0 c = 900
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Using The TI-83 Matrix function I get:
a = 500 (# of A stocks sold)
b = 100 (# of B stocks sold)
c = 400 (# of C stocks sold)
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Cheers,
Stan H.
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