A man owned 75 shares of stock worth $50 each. The corporation declared a dividend of 8%, payable stock. how many shares did he then own?
Thank you So much. The answers given are
A - 81 shares
B - 90 shares
C - 91 shares
D - 95 shares
should i round it off to 81? thanks for help on this.
So if the remainder of 4 able to be bought should there be 79 or 81 as that is the closest to the amount that was asked?
81
81
Huy, if the dividend has a value of $300 I believe that would afford a purchase of 6 more shares.
(6 x 50 = 300)
So, 75 + 6 = 81.
Does that make sense?
Blessings
bruhh 50x4=200. it would be 6 more shares
75 shares x $50 = $3750
8% payable stock => it means 8% of the total value of 75 shares => 3750x8% =300
but with $300, the man can buy 4 shares more so the total shares he own then are 79.