A mutual fund has total assetsof $15 millionand totalliabilities of $1 million. Therearemillionsharesoutstanding. You invest $5000in this fund. How many shareswill you purchase?

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Answered: A mutual fund has total assets of $15…

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter2: Equations, Inequalities, And Problem Solving

Section2.3: Equations Involving Decimals And Problem Solving

Problem 65PS

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A mutual fund has total assets of $15 million and total liabilities of $1 million. There are million shares outstanding. You invest $5000 in this fund. How many shares will you purchase?