Answered: ABC stock cost you $50 per share and…

ABC stock cost you $50 per share and XYZ stock cost you $60 per share. ABC had a year-to-date loss of 5% while XYZ had a year-to-date loss

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter3: Solving Equation And Problems

Section3.4: Using Equations To Solve Problems

Problem 29P

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Question

You invested in ABC Company and XYZ Company which each had a loss on the year. ABC stock cost you $50 per share and XYZ stock cost you $60 per share. ABC had a year-to-date loss of 5% while XYZ had a year-to-date loss of 8%you invested a total of $39,000 and a year-to-date loss of $2,670 , how many shares of each company did you purchasc? What was your investment in each company?

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