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September 19, 2014

Homework Help: work

Posted by Anonymous on Tuesday, February 12, 2013 at 11:57am.

1. Alcoa stock traded at $70 per share. Pete and his partner Al decided to sell 100 shares for a total of $7,000. The stock was purchased for $65 per share (100 x $65 = $6,500) for a gain of $500. Pete invested twice as much as Al in the purchasing of the shares. How much should Pete receive and how much should Al receive of the gain? Round to the nearest cent

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