Question

An investor bought 600 shares of stock, some at $7.50 per share and some at $2.00 per share. If the total cost was $2575.00, how many shares of each stock did the investor buy? (Round to two decimal places if necessary.)

Answer 1

The $

Step-by-step explanation

Let the number of $7.50 shares be x

Let the number of $2 shares be y

The total shares bought is 600 shares

x + y = 600

The sum of all the shares bought is $2575.00

7.5x + 2y = 2575

We can combine these two equations

x + y = 600

7.5x + 2y = 2575

We can solve this simultaneously, and obtain the value of

x = 250

y = 350

Hope this Helps!!!