The price of Stock A at 9 A.M. was $13.14. Since then, the price has been increasing at the rate of $0.06 each hour. At noon the price of Stock B was $13.64. It begins to decrease at the rate of $0.09 each hour. If the two rates continue, in how many hours will the prices of the two stocks be the same?
Accepted Solution
A:
Answer:[tex]2\frac{2}{15}[/tex] hours from noon the stock prices will be sameStep-by-step explanation:We can write equations for increasing stock and decreasing stock and find our answer.Let number of hours be "t" for both to be sameFor first, we can write:13.14 + 0.06tBut, 2nd one starts from noon, so already 12pm - 9am = 3 hours gone, so stock A increased by 3 * 0.06 = 0.18, so we equation would be:13.32 + 0.06tNow, Stock B's equation [from noon]:13.64 - 0.09tEquate and solve:[tex]13.32 + 0.06t=13.64-0.09t\\0.15t=0.32\\t=2\frac{2}{15}[/tex]In 2 2/15 hours, the prices will be same