An investor bought 600 shares of stock, some at $5.00 per share and some at $4.75 per share. If the total cost was $2912.50, how many shares of each stock did the investor buy? (Round to two decimal places if necessary.)
1 answer:
Let x= $4.75 shares
600-x- $5.00 shares
4.75x + 5 (600-x)= 2912.50
distribute and remove ( )
4.75x +3000-5x= 2912.50
combine like terms
-,25x + 3000= 2912.50
subtract 3000 from both sides
-.25x= -87.5
divide by -.25
x=350 shares @ $4.75
600-350= 250 shares @ $5,00
hope this helps
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