Respuesta :
Answer:
88 shares of Wall-Mart stock,
a) Step-by-step explanation, 22 shares of Mattel stock. b) $192
Given:
Suppose Wall-Mart stock is selling at $59 a share and Mattel stock is selling at $28 a share.
Amy has a maximum of $6000 to invest.
She wishes to purchase four times as many shares of Wall-Mart as of Mattel.
Only whole shares of stock can be purchased.
Question asked:
a) How many shares of each will she purchase?
b) How much money will be left over?
Solution:
Selling price of each share of Wall-Mart stock = $59
Selling price of each share of Mattel stock = $28
Let number of shares of Mattel stock purchased = [tex]x[/tex]
Then, number of shares of Wall-Mart stock = [tex]4x[/tex]
Total money invested =$6000
Shares of Mattel stock [tex]\times[/tex] $28 + Shares of Wall-Mart stock [tex]\times[/tex] $59 = $6000
[tex]28\times x+59\times4x=6000\\28x+236x=6000\\264x=6000[/tex]
Dividing both sides by 264
[tex]x=22\frac{192}{264}[/tex]
That means, total 22 shares of Mattel stock is purchased and 192 is the money left over:-
Number of shares of Wall-Mart stock = [tex]4x[/tex] = [tex]4\times22=88[/tex]
Total amount spent on Mattel stock shares = 22 [tex]\times[/tex] $28 = $616
Total amount spent on Wall-mart stock shares = 88 [tex]\times[/tex] $59 = $5192
Total amount spent on both shares = $616 + $5192 = $5808
Money left over = $6000 - $5808 = $192
a) He will purchase 88 shares of Wall-Mart stock and 22 shares of Mattel stock.
b) Money left over is $192.
