190k views
0 votes
Xyx Motors pays Nick $1,567.46 in dividends every year. If the dividend on one share of Xyx Motors is $4.33, how many shares does Nick own?

a.
383
b.
457
c.
362
d.
276

2 Answers

3 votes

Final answer:

Nick owns 362 shares of Xyx Motors, calculated by dividing the total annual dividend he receives ($1,567.46) by the dividend per share ($4.33).

Step-by-step explanation:

To calculate the number of shares Nick owns, we will divide the total annual dividend by the dividend per share. This can be expressed with the formula:

Number of shares = Total annual dividend ÷ Dividend per share

Let's use this formula with the figures from the question:

Number of shares = $1,567.46 ÷ $4.33

Now we perform the division:

Number of shares = 362.03

Since Nick cannot own a fraction of a share, we'll round down to the nearest whole number. Therefore, Nick owns 362 shares of Xyx Motors.

The correct answer is c. 362.

User Steven McGrath
by
8.0k points
7 votes

Answer:

C. 362

Step-by-step explanation:

If you divide 1567.46 by 4.33, you get 362.

User Samantha Withanage
by
9.0k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories