Question

The price of a stock was $24.56 per share. An investor decided to spend $5,000 to buy shares of the stock. To the nearest whole number, what is the maximum number of shares of stock that the investor can buy?

(A) 200
(B) 203
(C) 206
(D) 209

Answer 1

The maximum number of shares the investor can buy is approximately 203.

Step-by-step explanation:

To find the maximum number of shares that the investor can buy, we need to divide the amount the investor is willing to spend ($5,000) by the price per share ($24.56). To the nearest whole number, the result is approximately 203.