SOLUTION: Shanika has invested in 3 different stocks. Stock A is currently worth $4.50 per share. Stock B is worth $7.00 per share, while stock C is worth $10.00 per share. Shanika purchased
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Question 497536: Shanika has invested in 3 different stocks. Stock A is currently worth $4.50 per share. Stock B is worth $7.00 per share, while stock C is worth $10.00 per share. Shanika purchased half as many shares of stock B as stock A and half as many shares of stock C as stock B. If her total investments are currently worth %546, how many shares of each stock does she own? Found 2 solutions by mananth, josmiceli:Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Stock A = x-----------------4.50
Stock B = x/2---------------7.00
Stock C = x/4---------------10.00
Total investment = 546
4.5x+7*(x/2)+10*(x/4)=546
multiply by 4
18x+14x+10x=2184
42x=2184
x=52 ----------- A
26----------------B
13----------------C
CHECK
52*4.5+26*7+13*10=546
m.ananth@hotmail.ca
You can put this solution on YOUR website! Let = number of share of stock A she owns
Let = number of share of stock B she owns
Let = number of share of stock C she owns
given:
(1)
(2)
(3)
----------------------
This is 3 equations and 3 unknowns, so it's solvable
(1)
(1)
Substitute (1) and (2) into (3)
(3)
(3)
(3)
(3)
and, since
(1)
(1)
also,
(2)
(2)
She owns 52 shares of A, 26 shares of B, and
13 shares of C
check answer:
(3)
(3)
(3)
OK
