Problema Solution
A college graduate receives a salary of $2750 a month for her first job. During the year, she plans to spend $4800 for rent, $8200 for food, $3750 for clothing, $4250 for household expenses, and $300 for other expenses. With the money that is left, she expects to buy as many shares of stock at $375 per share as possible. How many shares will she be able to buy?
Answer provided by our tutors
in 1 year = 12 months the student will earn 12*2750 = $33,000
during the year she will spend total of 4800 + 8200 + 3750 + 4250 + 300 = $21,300
the money left 33,000 - 21,300 = $11,700
1 share = $375
x shares = $11,700
1 : 375 = x : 11700
x = 11700/375
x = 31.2
she can buy 31 share.