Question

his has stock $2,435.51. nts to sell nvest in priced at Bruno is ed $25 by his proker every he buys or stock. How new shares runo buy by ng in his old ? EXAMPLE Step 1 Geraldo has $1,000.00 to invest. He likes a stock selling for $52.50. How many shares could he purchase? Find the cost. Estimate. $52.50 = $50 1,000 $20 50 About 20 shares Step 2 Divide $1,000.00 by the cost per share. Discard the remainder. Step 3 Multiply the cost $ 52.50 Cost per share per share by the X 19 number of shares $997.50 purchased. Number of shares Total cost Money Available 1. $1,000.00 2. $1,500.00 3. $800.00 4. $600.00 5. $3,000.00 6. $1,800.00 7. $4,000.00 8. $100.00 9. $75.00 19. 52.5.)1000.0 525 Exercise F For each amount available, compute the number of shares that can be purchased. Then compute the total cost. Cost Total per Share Cost $20.25 $12.75 $9.75 $1.63 475 0 -472 5 25 Number of Shares $3.25 $16.75 $26.12 $4.25 $0.63​

Answer 1

Explanation:

a = b - 7000

0.05a + 0.07b = 1690

Since we have a "value" for a, we can substitute that "value" in place of a.

0.05(b - 7000) + 0.07b = 1690

0.05b - 350 + 0.07b = 1690

0.12b = 2040

b = $17,000