# Tock in Trochel Office Supplies trades at $72.40 per share and pays a yearly dividend of $6.92 per share. If David owns stock

###### Question:

## Answers

The correct answer is:

$615.88 (d)

Explanation:

First let us lay out the particulars stated in the question:

amount per share = $72.40

yearly dividend = $6.92

worth of stock owned = $6,443.60

Secondly, let us calculate the total shares that make up David's Total stock worth;

$72.40 = 1 share

∴ $6,443.60 = [tex]\frac{1}{72.40}[/tex] × [tex]\frac{6443.60}{1} = \frac{6443.60}{72.40} = 89[/tex]

Therefore total number of shares owned by David = 89 shares

Next we calculate the total number of dividends in 89 shares as follows;

1 share's yearly dividend = $6.92

∴ 89 share's yearly dividend = 6.92 × 89 = 615.88

Therefore David's yearly dividend is $615.88

First calculate how many stocks does david own

Since his worth supplies is $6,443.60 divide it by $72.40 per share

So he owns 89 share. Then mulipy it by the yearly dividend

(89 share) x ($6.92 per share) = $ 615.88

He is paid $ 615.88 per yearly dividends

The answer is c. $615.88