Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 1 - Problem Solving and Critical Thinking - 1.3 Problem Solving - Exercise Set 1.3: 20

Answer

She can purchase 24 shares.

Work Step by Step

A monthly salary of 2750 dollar per month gives us an annual (yearly) salary of 33,000 dollars. The yearly expenses listed (in dollars) are: 4,800 for rent, 8,200 for food, 3,750 for clothes, 4250 for household expenses, and 3,000 for other. This adds up to 24,000 dollars per year. The difference in her yearly income and her yearly expenses is 33,000 - 24,000 or 9000 dollars. If she wishes to use the 9000 dollars to invest in stock at 375 dollars per share, we divide 9000 by 375 and get 24. This means that 24 shares of the stock may be purchased in one year.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.