Question

Please help me solve this problem

Answer 1

Answer:

$46,800,000

Step-by-step explanation:

1. Find the total number of shares that Live Fund has.  They have 24% of the total shares, which is 78,000.  To find their portion of the shares, multiply the total amount by the percent they own; 78,000 * .24.  This gives us 18720 shares.

2. Since they are selling half of their shares, divide their total number of shares by 2.  This gives us 9360.

3. Each share is worth $5000, so multiply 9360 by 5000.  This gives us a final answer of $46,800,000.

Alternatively, we could have just found half of the percent of shares that they own in step 1, so what 12% of 78,000 is instead, and multiplied by 5000.