37
QuizMultiple Choice

Quadratic Functions and Equations in Financial Context — Quiz

Question 37 • Financial Math

A shares transaction summary shows a total purchase price of $⁢8,743.80 before fees. If the share price had been $⁢0.20 cheaper, the investor could have purchased 35 more shares. Simplify the equation (8,743.50)/(x−0.2)−(8,734.8)/(x)=35 and use the quadratic formula to find the price per share of the stock. Round to the nearest hundredth if necessary.

Answer
A
7 point 1 7 dollars
B
6 point 9 7 dollars
C
41 point 7 2 dollars
D
41 point 9 2 dollars
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