
Mark M. answered 08/15/19
Mathematics Teacher - NCLB Highly Qualified
s represents the number of shares offered
0.05(900000) + s = 0.10(900000 + s)
45000 + s = 90000 + 0.10s
0.90s = 45000
s = 50000
Mary A.
asked 08/15/19An acquaintance of one of the authors was about to take his startup internet company public. He owned 5% of the 900,000 shares of stock that were issued when the company was first formed.
The board of directors decided to reward him by issuing additional stock so that he would then own 10% of the company. How many new shares of stock should be issued and then rewarded to him?
Mark M. answered 08/15/19
Mathematics Teacher - NCLB Highly Qualified
s represents the number of shares offered
0.05(900000) + s = 0.10(900000 + s)
45000 + s = 90000 + 0.10s
0.90s = 45000
s = 50000
Sammy G. answered 08/15/19
Chemistry, Math, and Chemical Engineering Tutor Here for Your Success
50,000 (Please see video answer).
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