Question

The price of Stock A at 9 A.M. was $15.57. Since then, the price has been increasing at the rate of $0.07 each hour. At noon the price of Stock B was $16.32. It

begins to decrease at the rate of $0.15 each hour. If the two rates continue, in how many hours will the prices of the two stocks be the same?

Answer 1

To find the number of hours it will take for the prices of Stock A and Stock B to be the same, we can set up an equation.

Let's assume "x" represents the number of hours since 9 A.M. Then, the price of Stock A at any given hour can be expressed as:

Price of Stock A = $15.57 + ($0.07 * x)

Similarly, the price of Stock B at any given hour can be expressed as:

Price of Stock B = $16.32 - ($0.15 * x)

To find the point at which the prices of Stock A and Stock B are the same, we can set up the equation:

$15.57 + ($0.07 * x) = $16.32 - ($0.15 * x)

Now, let's solve this equation for "x":

$0.07 * x + $0.15 * x = $16.32 - $15.57
$0.22 * x = $0.75
x = $0.75 / $0.22
x ≈ 3.41 hours

Therefore, it will take approximately 3.41 hours for the prices of Stock A and Stock B to be the same.