You invested a total of $11,600 in shares of the three stocks at the given prices, and expected to earn $272 in annual dividends. If you purchased a total of 200 shares, how many shares of each stock did you purchase?
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let the number of 3 stocks are x,yz respectively, then we have
x+y+z = 200,
16x+56y+80z = 11600
0.07*16x+0.02*56y+0.02*80z = 272
simplify the equations
x+y+z = 200
x+3.5 y+5z = 725
1.12 x+1.12y+1.6z = 272 or x+y + 10/7 z = 1700/7
x=y=50, z= 100
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