In the 3-month period november 1, 2014, through january 31, 2015, hess corp. (hes) stock decreased from $80 to $64 per share, and exxon mobil (xom) stock decreased from $96 to $80 per share.† if you invested a total of $22,240 in these stocks at the beginning of november and sold them for $18,080 3 months later, how many shares of each stock did you buy?

170 HES and 90 XOM

Hi! Let's say you bought A HES shares, and B XOM shares. As you invested $22,240, yo have that:

    (80 and 96 are the initial prices)

3 months later those prices decreased to 64 and 80, and you sold your shares at those prices, then:

This is a system of two linear equations and two unkowns A, B. You can solve it getting A from first equation:

And then replacing A into the second equation you can find the value of B. Then replacing B in the third equation you get A.

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