Stock breakdown.

Question

In the 3-month period November 1, 2014, through January 31, 2015, Hess Corp. (HES) stock decreased from $80 to $64 per share, and Exxon Mobil (XOM) stock decreased from $96 to $80 per share.† If you invested a total of $20,000 in these stocks at the beginning of November and sold them for $16,320 3 months later, how many shares of each stock did you buy?

Answer 1

96E + 80H = 20,000

9.6E + 8H = 2,000

80E +64H = 16320

10E + 8H = 2040

10E+8H =2040

9.6E+8H =2000

.4E = 40

E =$100 per share invested in Exxon Mobile

960+ 8H =2000

8H = 1040

H = $130 per share invested in Hess Corp

80(100) + 64(130) = 8000 + 8320 = 16320

96(100) + 80(130) = 9600+ 10400 = 20000