Pre-Algebra
Pre-Algebra
1st Edition
ISBN: 9780618800766
Author: Ron Larson, Lee Stiff, Laurie Boswell, Timothy Kanold
Publisher: Houghton Mifflin-High School
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Chapter 7, Problem 16CP

a.

To determine

To find: The number of shares which can buy in one transaction.

a.

Expert Solution
Check Mark

Answer to Problem 16CP

The number of shares which can buy in one transaction is 49.029 .

Explanation of Solution

Given information: You have $1275.25 to buy stock in a company. Your stockbroker charges a brokerage fee of $12.75 for each transaction. Each share is currently worth $25.75 .

Calculation: The total amount which can be spend to buy stock in a company is $1275.25 .

Currently the price of each share is $25.75 and the brokerage charge for each transaction is $12.75

Let, the number of share which can buy is x .

Hence, The total cost of the x share is,

  = Price of

  x share + Brokerage charge for the transaction ......(1)

Let’s find the amount which can spend to buy the shares is,

  =Total share price - Brokerage charge.=$1275.25−$12.75=$1262.5

Hence, One share price is $25.75

  x share price is $1262.5 .

Let’s find the value of x ,

  x=$1262.5$25.75x=49.029

Hence, The number of shares which can buy in one transaction is 49.029 .

b.

To determine

To find: The number of shares which can buy in one transaction of $800 .

b.

Expert Solution
Check Mark

Answer to Problem 16CP

The number of shares which can buy in one transaction of $800 is 25.405 .

Explanation of Solution

Given information: You save $800 to buy more stock. Each share is now worth $31.49 . How many shares can you buy in one transaction of $800 .

Calculation: The total amount which can be spend to buy stock in a company is $800 .

Currently the price of each share is $31.49 .

Let, the number of share which can buy is x .

Hence, The total cost of the x share is $800 .

Let’s find the value of x ,

  x=$800$31.49x=25.405

Hence, The number of shares which can buy in one transaction of $800 is 25.405 .

c.

To determine

To find: The total value of the shares.

c.

Expert Solution
Check Mark

Answer to Problem 16CP

The total value of the shares is $2110.948 .

Explanation of Solution

Given information: Suppose the shares in parts (a) and (b) are now worth $28.36 . What is the total value of the shares.

Calculation: Current price of each share is $28.36 .

The total number of shares of part (a) and (b) is,

  =49.029+25.405=74.434

Let, The total value of the shares is x .

Where, x= No of shares × Current price of each share.

Let’s find the total value of x ,

  =74.434×$28.36=$2110.948

Hence, The total value of the shares is $2110.948 .

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Chapter 7, Problem 15CP
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Chapter 7, Problem 17CP

Chapter 7 Solutions

Pre-Algebra

Ch. 7.1 - Prob. 1CCh. 7.1 - Prob. 2CCh. 7.1 - Prob. 3CCh. 7.1 - Prob. 4CCh. 7.1 - Prob. 5CCh. 7.1 - Prob. 6CCh. 7.1 - Prob. 7CCh. 7.1 - Prob. 8CCh. 7.1 - Prob. 9CCh. 7.1 - Prob. 1E
Ch. 7.1 - Prob. 2ECh. 7.1 - Prob. 3ECh. 7.1 - Prob. 4ECh. 7.1 - Prob. 5ECh. 7.1 - Prob. 6ECh. 7.1 - Prob. 7ECh. 7.1 - Prob. 8ECh. 7.1 - Prob. 9ECh. 7.1 - Prob. 10ECh. 7.1 - Prob. 11ECh. 7.1 - Prob. 12ECh. 7.1 - Prob. 13ECh. 7.1 - Prob. 14ECh. 7.1 - Prob. 15ECh. 7.1 - Prob. 16ECh. 7.1 - Prob. 17ECh. 7.1 - Prob. 18ECh. 7.1 - Prob. 19ECh. 7.1 - Prob. 20ECh. 7.1 - Prob. 21ECh. 7.1 - Prob. 22ECh. 7.1 - Prob. 23ECh. 7.1 - Prob. 24ECh. 7.1 - Prob. 25ECh. 7.1 - Prob. 26ECh. 7.1 - Prob. 27ECh. 7.1 - Prob. 28ECh. 7.1 - Prob. 29ECh. 7.1 - Prob. 30ECh. 7.1 - Prob. 31ECh. 7.1 - Prob. 32ECh. 7.1 - Prob. 33ECh. 7.1 - Prob. 34ECh. 7.1 - Prob. 35ECh. 7.1 - Prob. 36ECh. 7.1 - Prob. 37ECh. 7.1 - Prob. 38ECh. 7.1 - Prob. 39ECh. 7.1 - Prob. 40ECh. 7.1 - Prob. 41ECh. 7.1 - Prob. 42ECh. 7.1 - Prob. 43ECh. 7.1 - Prob. 44ECh. 7.1 - Prob. 45ECh. 7.1 - Prob. 46ECh. 7.1 - Prob. 47ECh. 7.1 - Prob. 48ECh. 7.1 - Prob. 49ECh. 7.1 - Prob. 50ECh. 7.1 - Prob. 51ECh. 7.1 - Prob. 52ECh. 7.1 - Prob. 53ECh. 7.1 - Prob. 54ECh. 7.1 - 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