Chapter 1.5, Problem 9IP

To determine

What was the total value of Mr. And Mrs. Delgado’s stock before the sale.

Answer to Problem 9IP

  $\$16,200$

Explanation of Solution

Given :

Mr. And mrs. Delgado each own an equal numbers of shares of a stocks. Mr. Delgado sells one third of his shares for $2700.

In order to find what was the total value of mr. And mrs. Delgado’s stock before the sale, mr. Delgado sold 1/3 of his shares of $2700, then the value of his stock before the sale was get by multiplying 2700 by 3 as shown below:

  $\begin{array}{l}2700\times 3\\ =\$8100\end{array}$

Since Mr. Delgado and Mrs. Delgado each owned the same amount of stock before the sale, then the total value of their combined shares before the sale was get by multiplying 8100 by 2, as shown below:

  $\begin{array}{l}\$8100\times 2\\ =\$16,200\end{array}$

So, the total value of Mr. And Mrs. Delgado’s stock before the sale was $16,200.