The time required for the two stocks of Jones Corporation and Overton Company to be nearly equal in value, is 30 months.
What is stocks?
A stock is the portion of ownership of a firm, corporation etc which gives the security of asset of the property.
Stock for the Jones Corporation starts with a value of $39.63 and gains $0.30 in value per month.
Stock for the Overton Company starts with a value of $24.45 and gains $0.80 in value per month.
Let after the x month's these two stocks nearly equal in value.
[tex]39.63+0.30\times x=24.45 +0.80 \times x[/tex]
Solve it further,
[tex]0.80 \times x-0.30\times x=39.63-24.45 \\0.50 \times x=15.18\\x=\dfrac{15.81}{0.50}\\x=30.36[/tex]
Hence, the time required for the two stocks of Jones Corporation and Overton Company to be nearly equal in value, is 30 months.
Learn more about the stocks here;
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