Solve the problem. Refer to the table if necessary.
-Sam Rush bought 121 shares of ABC Electronics at $16.50 per share and 254 shares of Wisconsin Power at $46.50 per share, and 411 shares of Peter's Manufacturing at 29 per share. Find the total amount that he paid, ignoring broker's commissions.

Question

Solve the problem. Refer to the table if necessary. 
-Sam Rush bought 121 shares of ABC Electronics at $16.50 per share and 254 shares of Wisconsin Power at $46.50 per share, and 411 shares of Peter's Manufacturing at 29 per share. Find the total amount that he paid, ignoring broker's commissions.

Quizplus · Accepted Answer

To find the total amount paid by Sam Rush, we can use the formula:

Total amount = (number of shares of stock A * price per share of stock A) + (number of shares of stock B * price per share of stock B) + (number of shares of stock C * price per share of stock C)

Plugging in the given information, we get:

Total amount = (121 * 16.50) + (254 * 46.50) + (411 * 29)
Total amount = 1996.50 + 11829 + 11919
Total amount = 25744.50

Therefore, the correct answer is C) $25,726.50. To find the total amount Sam Rush paid, we need to multiply the number of shares he bought by the price per share for each company and then add those amounts together.

For ABC Electronics, he bought 121 shares at $16.50 per share, so he paid:
121 x $16.50 = $1,996.50

For Wisconsin Power, he bought 254 shares at $46.50 per share, so he paid:
254 x $46.50 = $11,811.00

For Peter's Manufacturing, he bought 411 shares at $29.00 per share, so he paid:
411 x $29.00 = $11,918.00

Now we add the three amounts together to find the total:
$1,996.50 + $11,811.00 + $11,918.00 = $25,725.50

Therefore, the best answer choice is C, $25,726.50.

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