Solved:
Answered by AI, Verified by Human Experts
Darryl’s portfolio includes 66 shares of Essentia Inc., 95 shares of SFT Legal, and 180 shares of Grath Oil. If Essentia Inc. pays a yearly dividend of $1.79 per share, SFT Legal pays $2.62 per share, and Grath Oil pays $1.18 per share, how much does Darryl receive in dividends every year?
Darryl’s portfolio includes 66 shares of Essentia Inc., 95 shares of SFT Legal, and 180 shares of Grath Oil. If Essentia Inc. pays a yearly dividend of $1.79 per share, SFT Legal pays $2.62 per share, and Grath Oil pays $1.18 per share, how much does Darryl receive in dividends every year? A. $610.39
B. $893.42
C. $402.38
D. $579.44
Answer:The correct option is d. $579.44Explanation:For computing the total dividend which is to be received every year, we have to calculate the sum of different portfolios. The calculation is shown below:= Essentia Inc shares × dividend per share + SFT Legal shares × dividend per share + Grath Oil shares × dividend per share= 66 × $1.79 + 95 × $2.62 + 180 × $1.18= $118.14 + $248.9 + $212.4= $579.44Hence, the $579.44 should Darryl receive in dividends every year.Thus, the correct option is d. $579.44...
Unlock full access for 72 hours, watch your grades skyrocket.
For just $0.99 cents, get access to the powerful quizwhiz chrome extension that automatically solves your homework using AI. Subscription renews at $5.99/week.