Last year Ted spent $5,000 to buy shares of Blowhard Inc for $5.10 per share; he spent
Fantastic news! We've Found the answer you've been seeking!
Question:
Last year Ted spent $5,000 to buy shares of Blowhard Inc for $5.10 per share; he spent $1,000 to buy shares of Spin fast Inc for $7.50/share, and also bought shares of Knuckle buster Inc for $2.00 /share. Blowhard realized a return of 11% for the year, Spin fast a return of ?15%, and Knuckle bster a return of 4.5%. Ted’s average rate of return for the year was6.5% Determine the number of shares of Knuckle buster in that Ted must have purchased.
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip Old
Posted Date: