SOLUTION: 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

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: 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       Log On


   

Question 325323: 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?

Preferred shares issues a dividend of $7/share Common shares issues a dividend at 20% less per share. What is my dividend on common shares?
Common shares issues a split of 6:5
After the split how many shares do I own?
After the split what is the price for common shares?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Let prefered shares be x
common will be 3x
common = $40
prefered = 3/4 *40 = 30
..
x+3x = 300 shares
4x= 300
x= 75
common = 225
..
225*40+30*75= total value
$11,250
..