Answered: Consider the following information…

Consider the following information about stocks of Corporations A, B, and C. Price ($) Dividend Yield (%) Corp A 16 7 Corp B 56 2 Corp C 80 2 You invested a total of $8,400

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section: Chapter Questions

Problem 22CT

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Question

Consider the following information about stocks of Corporations A, B, and C.

	Price ($)	Dividend Yield (%)
Corp A	16	7
Corp B	56	2
Corp C	80	2

You invested a total of $8,400 in shares of the three stocks at the given prices and expected to earn $248 in annual dividends. If you purchased a total of 200 shares, how many shares of each stock did you purchase? Use matrix algebra.

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