An investment club has set a goal of earning 15% on the money it invests in stocks. The members are considering purchasing three possible stocks, with their cost per share (in dollars) and their projected growth per share (in dollars) summarized in the following table. (Let x = computer shares, y = utility shares, and z = retail shares.) Stocks Computer (x) Utility (y) Retail (z) Cost/share 30 44 26 Growth/share 6.00 6.00 2.40 (a) If they have $392,000 to invest, how many shares of each stock should they buy to meet their goal? (If there are infinitely many solutions, express your answers in terms of z as in Example 3.) (x, y, z) = (b) If they buy 900 shares of retail stock, how many shares of the other stocks should they buy? computer shares utility shares What if they buy 1800 shares of retail stock? computer shares utility shares (c) What is the minimum number of shares of computer stock they should buy? sharesWhat is the number of shares of the other stocks in this case? utility shares retail shares (d) What is the maximum number of shares of computer stock they should purchase? sharesWhat is the number of shares of the other stocks in this case? utility shares retail shares

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Description: An investment club has set a goal of earning 15% on the money it invests in stocks. The members are considering purchasing three possible stocks, with their cost per share (in dollars) and their projected growth per share (in dollars) summarized in t

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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An investment club has set a goal of earning 15% on the money it invests in stocks. The members are considering purchasing three possible stocks, with their cost per share (in dollars) and their projected growth per share (in dollars) summarized in the following table. (Let x = computer shares, y = utility shares, and z = retail shares.)

	Stocks
	Computer (x)	Utility (y)	Retail (z)
Cost/share	30	44	26
Growth/share	6.00	6.00	2.40

(a) If they have $392,000 to invest, how many shares of each stock should they buy to meet their goal? (If there are infinitely many solutions, express your answers in terms of z as in Example 3.)

(x, y, z) =

(b) If they buy 900 shares of retail stock, how many shares of the other stocks should they buy?

computer	shares
utility	shares

What if they buy 1800 shares of retail stock?

computer	shares
utility	shares

(c) What is the minimum number of shares of computer stock they should buy?
shares

What is the number of shares of the other stocks in this case?

utility	shares
retail	shares

(d) What is the maximum number of shares of computer stock they should purchase?
shares

What is the number of shares of the other stocks in this case?

utility	shares
retail	shares

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