During the first quarter of 2015, Toronto Dominion Bank (TD) stock cost $45 per share and was expected to yield 4% per year in dividends, while CNA Financial Corp. (CNA) stock cost $40 per share and was expected to yield 2.5% per year in dividends.† If you invested a total of $29,800 in these stocks and expected to earn $934 in dividends in a year, how many shares of each stock did you purchase? TD Stock ?? Shares CNA stock ?? shares
During the first quarter of 2015, Toronto Dominion Bank (TD) stock cost $45 per share and was expected to yield 4% per year in dividends, while CNA Financial Corp. (CNA) stock cost $40 per share and was expected to yield 2.5% per year in dividends.† If you invested a total of $29,800 in these stocks and expected to earn $934 in dividends in a year, how many shares of each stock did you purchase? TD Stock ?? Shares CNA stock ?? shares
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 9P
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During the first quarter of 2015, Toronto Dominion Bank (TD) stock cost $45 per share and was expected to yield 4% per year in dividends, while CNA Financial Corp. (CNA) stock cost $40 per share and was expected to yield 2.5% per year in dividends.† If you invested a total of $29,800 in these stocks and expected to earn $934 in dividends in a year, how many shares of each stock did you purchase?
TD Stock ?? Shares
CNA stock ?? shares
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