Problema Solution
Fred and Staci Whittingham own 40 shares of Procter and Gamble stock and 25 shares of Microsoft stock. At the close of the markets on September 25, 1997, their stock portfolio was worth $6,058.75. The closing price of Microsoft stock was $64.25 more per share than the closing price of Procter and Gamble stock on that day. What was the price of each stock on September 25, 1997? (Source: Based on data from Standard and Poor’s ComStock)
Answer provided by our tutors
Let
x = the price per share of Procter and Gamble stock
x + 64.25 = the price per share of Microsoft stock
40x + (x + 64.25)*25 = 6058.75
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click here to see the equation solved for x
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x = $68.50 per share of Procter and Gamble stock
68.50 + 64.25 = $132.75 per share of Microsoft stock