Concept explainers
To find: the worth when the market opened that day.
Answer to Problem 14P
They were $53200 that day when market opened.
Explanation of Solution
Given information:
An investor lost $2500 on one stock, but gained $1700 on another. At the end of trading that day, the investor’s holding in those two stocks were worth $52400.
Calculation:
Let, consider that worth
An investor lost $2500 on one stock, but gained $1700 on another. At the end of trading that day, the investor’s holding in those two stocks were worth $52400.
So, as per given information, write the equation as,
Now, solve the equation as shown,
Hence, they were $53200 that day when market opened.
Chapter 3 Solutions
Algebra: Structure And Method, Book 1
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