If you started with 100 shares of stock at $48 per share and participated fully in the DRIP, how many shares of stock would you have at the end of 2017? Round up to the nearest three decimal places
If you started with 100 shares of stock at $48 per share and participated fully in the DRIP, how many shares of stock would you have at the end of 2017? Round up to the nearest three decimal places
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Alexander Railroads has a dividend reinvestment program for shareholders. From
2013 to 2017, the company had the following share prices and dividends.
Year
Share price after dividend dividend per share
2013
$48
$2.50
2014
$50.75
$2.75
2015
$55.15
$3.00
2016
$60.50
$3.50
2017
$61.25
$4.00
If you started with 100 shares of stock at $48 per share and participated fully in
the DRIP, how many shares of stock would you have at the end of 2017? Round up
to the nearest three decimal places](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0d394aa8-be85-478e-936b-e363d1b0fff4%2F09dfe2b9-2907-4ec3-8385-7d41705524c5%2Fxsy2jao_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Alexander Railroads has a dividend reinvestment program for shareholders. From
2013 to 2017, the company had the following share prices and dividends.
Year
Share price after dividend dividend per share
2013
$48
$2.50
2014
$50.75
$2.75
2015
$55.15
$3.00
2016
$60.50
$3.50
2017
$61.25
$4.00
If you started with 100 shares of stock at $48 per share and participated fully in
the DRIP, how many shares of stock would you have at the end of 2017? Round up
to the nearest three decimal places
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