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 $20,960 in these stocks at the beginning of november and sold them for $17,120 3 months later, how many shares of each stock did you buy?

HES stock has 110 shares and the Exxon Mobil stock has 130 shares

Explanation:

In this question, we have to assume the HES stock be X and Exxon Mobil stock be y

So, the equations would be

80X + 96Y = $20,960

64X + 80Y = $17,120

Now, we have to compute this equation by multiplying the 64 in equation 1 and 80 in equation 2

So, the updated equation would be

5,120X + 6,144Y = 1,341,440

5,120X + 6,400Y = 1,369,600

Now we have to add the subtract sign in both the equations

So,

X should be deleted and Y would be

-256Y = - 28160

So, Y = 110

Now multiply the Y value with any of the equation, to compute the X shares

So,

80X + 96Y = $20,960

80X + 96 × 110 = $20,960

80X + 10,560 = $20,960

80X = 10,400

X = 130 shares