Question

1: A man owns 50 shares of stock worth $30 each. The corporation declared a dividend of 6% payable in stock. How many shares did he then own?

Answer 1

Answer:

53 shares

Step-by-step explanation:

Calculation for how many SHARES did he then own

Using this formula

Numbers of shares=[ (Dividend percentage payable in stock ×Shares of stock)+Shares of stock]

Let plug in the formula

Numbers of shares= [(.06 x 50 shares)+50 shares]

Numbers of shares= 3 + 50 shares

Numbers of shares = 53 shares

Therefore How many shares did he then own is 53 shares