Chapter PS, Problem 4.3P

To determine

To find: The total value of Mr. and Mrs. Delgado’s stock before the sale.

Answer to Problem 4.3P

The total value of Mr. and Mrs. Delgado’s stock before the saleis $\$16200$ .

Explanation of Solution

Given information:

Mr. and Mrs. Delgado have equal number of stock and Mr. Delgado sells one-third of his shares for $\$2700$ .

Consider the value of stockof Mr. Delgado be $\$x$ .

As per the given condition,

  $\begin{array}{l}\frac{1}{3}x=2700\\ x=\$8100\end{array}$

The total value of Mr. and Mrs. Delgado’s stock before the sale is calculated as,

  $\begin{array}{l}2x=2\left(8100\right)\\ 2x=\$16200\end{array}$

Thus, the total value of Mr. and Mrs. Delgado’s stock before the sale is $\$16200$ .