I am looking for help setting up and solving algebraic word problems
August 25, 2006 8:23pm CST
You own 14 shares of stock in a sporting goods company. The total value of each share changes by -$2.94. By how much does the value of each share of stock change? The answer I got was -$.21 by dividing but I have no idea about how to actually set up the problem or really, if my answer is correct. Please help! Thanks :-(
10 Dec 06
Let the cost of your each share be x You own 14 shares , so the cost of 14 shares = 14x Now the cost has got shifted by -$2.94 let the change in the each share be y Then our equation will be 14x - 14 (x-y) = 2.94 14x -14x+ 14y = 2.94 14y = 2.94 y= 2.94/14 y= 0.21 Since we have taken y as the change in the share it will be negative here as the whole shift was negative therefore the value of each share shifted by -$0.21 !
• United States
10 Dec 06
I am a little confused by the wording. Your original post says: "The total value of each share changes by -$2.94." This would indicate to me that each share of the stock is changing by $2.94...and I just wondered if the problem was set up to see if you were reading carefully. On the other hand, if the total value of the stock changes by -$2.94, then the value of each share changes by (-$2.94/14) = -$0.21