Question

Carmen buys 153 shares of Cawh Consolidated Banks, each of which pays a constant yearly dividend of $7.14. After six years, how much has Carmen received in dividends?

Answer 1

153 x 7.14 = 1092.42
so every year she gets $1092.42
so times that by 6 and the answer is $6554.52

Answer 2

Answer: $6554.52

Explanation:

Total number of shares bought by Carmen =153

A constant yearly dividend paid by each share=$7.14

Thus, 153 shares pays yearly dividend =
`153*7.14=\$1092.42`

After 6 years, total dividend received by Carmen=
`6*1092.42=\$6,554.52`

Hence, The total dividend received by Carmen in 6 years = $6554.52