Absolute Value and Linear Inequalities in Financial Context — Quiz
Question 27 • Financial Math
One investor’s stock purchase depending on the price per share can be represented by the inequality 250x+5.99<13,543 Which statement is true about the purchase, based on the inequality? Round to the nearest hundredth if necessary.
Answer
A
The investor wants to spend more than 13 dollars comma 543 on the transaction.
B
The investor is purchasing 250 shares.
C
The cost per share needs to be at least 54 point 1 5 dollars.
D
The stock costs 5 point 9 9 dollars per share.
Explanation
In 250x + 5.99 < 13,543, the term 250x represents the cost of 250 shares at x dollars per share, and $5.99 is an additional charge. So the true statement is that the investor is purchasing 250 shares. The inequality also means the share price must be below about $54.15, not at least $54.15.
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