carmen buys 153 shares of cawh consolidated banks, each of which pays a constant yearly dividend of $7.14…

carmen buys 153 shares of cawh consolidated banks, each of which pays a constant yearly dividend of $7.14. after six years, how much has carmen received in dividends?\na. $5,783.40\nb. $1,820.70\nc. $1,092.42\nd. $6,554.52

carmen buys 153 shares of cawh consolidated banks, each of which pays a constant yearly dividend of $7.14. after six years, how much has carmen received in dividends?\na. $5,783.40\nb. $1,820.70\nc. $1,092.42\nd. $6,554.52

Answer

Explanation:

Step1: Calculate annual dividend

Multiply number of shares by dividend per share. $153\times7.14 = 1092.42$

Step2: Calculate 6 - year dividend

Multiply annual dividend by 6 years. $1092.42\times6=6554.52$

Answer:

d. $6,554.52$