In April 2011, Consolidated Edison (ED) stock cost $50 per share and yielded 5% per year in dividends, while National Grid (NGG) stock cost $50 per share and yielded 6% per year in dividends.† If you invested a total of $54,000 in these stocks and earned $2,900 in dividends in a year, how many shares of each stock did you purchase? (Assume the dividend rate was unchanged for the year.
In April 2011, Consolidated Edison (ED) stock cost $50 per share and yielded 5% per year in dividends, while National Grid (NGG) stock cost $50 per share and yielded 6% per year in dividends.† If you invested a total of $54,000 in these stocks and earned $2,900 in dividends in a year, how many shares of each stock did you purchase? (Assume the dividend rate was unchanged for the year.
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
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 6P
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In April 2011, Consolidated Edison (ED) stock cost $50 per share and yielded 5% per year in dividends, while National Grid (NGG) stock cost $50 per share and yielded 6% per year in dividends.† If you invested a total of $54,000 in these stocks and earned $2,900 in dividends in a year, how many shares of each stock did you purchase? (Assume the dividend rate was unchanged for the year.
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