From November to December of 2015, the price per share of BP Oil dropped from $91.25...
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From November to December of 2015, the price per share of BP Oil dropped from $91.25 to $82.75. Exxon shares also dropped from $97.75 to $77.75. In November, your rich cousin invested $106,632.25 into a combination of BP and Exxon shares. By December they sold their shares for $92,788.25 losing $13,844 from their investment. How many of each stock did they purchase? They purchased Number BP shares and Number Exxon shares. From November to December of 2015, the price per share of BP Oil dropped from $91.25 to $82.75. Exxon shares also dropped from $97.75 to $77.75. In November, your rich cousin invested $106,632.25 into a combination of BP and Exxon shares. By December they sold their shares for $92,788.25 losing $13,844 from their investment. How many of each stock did they purchase? They purchased Number BP shares and Number Exxon shares.
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Lets denote the number of BP shares purchased as x and the number of Exxon shares purchased as y Giv... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
Posted Date:
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