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From November to December of 2015, the price per share of BP Oil dropped from $95.75 to $76.75. Exxon shares also dropped from $97.75 to $76.25. In November, your rich cousin invested $20,585 into a combination of BP and Exxon shares. By December they sold their shares for $16,199.5 losing $4,385.5 from their investment. How many of each stock did they purchase? They purchased Number BP shares and Number Exxon shares.

From November to December of 2015, the price per share of BP Oil dropped from $95.75 to $76.75. Exxon shares also dropped from $97.75 to $76.25. In November, your rich cousin invested $20,585 into a combination of BP and Exxon shares. By December they sold their shares for $16,199.5 losing $4,385.5 from their investment. How many of each stock did they purchase? They purchased Number BP shares and Number Exxon shares.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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From November to December of 2015, the price per share of BP Oil dropped from $95.75 to $76.75. Exxon shares also dropped from $97.75 to $76.25. In November, your rich cousin invested $20,585 into a combination of BP and Exxon shares. By December they sold their shares for $16,199.5 losing $4,385.5 from their investment. How many of each stock did they purchase? They purchased Number BP shares and Number Exxon shares.
Transcribed Image Text:From November to December of 2015, the price per share of BP Oil dropped from $95.75 to $76.75. Exxon shares also dropped from $97.75 to $76.25. In November, your rich cousin invested $20,585 into a combination of BP and Exxon shares. By December they sold their shares for $16,199.5 losing $4,385.5 from their investment. How many of each stock did they purchase? They purchased Number BP shares and Number Exxon shares.
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