Question

An accountant receives a salary​ of​ $306,000 per year. During​ the​ year, he plans to​ spend​ $101,500 on​ his​ mortgage,​ $63,000 on​​ food, $48,900 on​ clothing,​ $43,000 on​ household​ expenses,​ and​ $37,000 on other expenses. With the money he​ has​ left, he expects to buy as many shares of stock​ at​ $280 per share as possible. How many shares will he be able​ to​ buy?

Answer 1

Amount left after expenses = $12600
#shares that can be bought at 280/share = 12600/280 = 45