Question

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

Answer 1

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.

Answer 2

C. 362

Step-by-step explanation:

If you divide 1567.46 by 4.33, you get 362.