A man owns 50 shares of stock worth $30 each. The corporation declared a dividend of 6% payable in stock. How many shares did he
then own?
1 answer:
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Answer:
53 shares
Step-by-step explanation:
If we assume the price remained constant, then the number of shares increased by 6%.
(50 shares)(1 +6%) = 53 shares
The man then owned 53 shares.
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