To solve this problem we would:
Step 1: Understand
the problem. We need to find out what 50 shares
of stock would cost at 18 3/5 dollars.
Step 2:
Analyze the data. 50 shares of stock at 18
3/5 dollars.
Step 3:
Plan. We can choose our operation for this
one to be multiplication of 50 times 18 3/5.
Step 4:
Estimate. To estimate an answer we would round
18 3/5 to $20 and then multiply 50 times 20
for an estimated answer of $1000.
Step 5:
Solve the problem. The first thing we would
do is change our mixed number, 18 3/5, to an
improper fraction.
18 3/5 =
93/5
Now we multiply 50 x 93/5.
From here you can take one of two paths to
your answer. The first path is a little longer,
but works just fine. Multiply 50 times 93 and
then divide by the 5 in the denominator.
50 x 93/5
= 4650/5 = 930
The shorter path is to notice that you can divide
out by reducing the 50 and the 5 in the denominator.
So our work looks like this:
50 x 93/5
= 10 x 93 = 930
Notice we get the same answer, but reached
it a little differently both ways.
Step 6:
Examine our answer. We find that 50 shares
of the stock would cost $930. This is also
close to our estimate as well.
Therefore, our final answer would be C,
$930.
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