Question: Help me answer this question. I also need you to show me the steps on how you got the answer. Michael Franklin has 16,000 invested

Help me answer this question. I also need you to show me the steps on how you got the answer.

Michael Franklin has 16,000 invested in stock A and stock B. Stock A currently sells for $30 a share and stock B sells for $70 a share. If stock B triples value and stock A goes up 50%, his stock will be worth $34,500. How many shares of each does he own?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!