SOLUTION: 2. Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total value of Bob's holdings of these two companies is $340,000. Suppose Frank owns 8,000 sha

Question 197924: 2. Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total value of Bob's holdings of these two companies is $340,000.
Suppose Frank owns 8,000 shares of Company X and 6,000 shares of Company Y. The total value of Franks holdings of these two companies is $340,000.
a. Write equations for Bob and Frank's holdings. Use the variables X and Y to represent the values of shares of Company X and Company Y.
b. Solve for the value of a share of Company X and Company Y. Show your work so you can get partial credit even if your final answer is wrong.

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total value of Bob's holdings of these two companies is $340,000.
Eq #1: 2000x + 10000y = 340000
---------------------------

Suppose Frank owns 8,000 shares of Company X and 6,000 shares of Company Y. The total value of Franks holdings of these two companies is $340,000.
Eq #2: 8000x + 6000y = 340000
---------------------------
a. Write equations for Bob and Frank's holdings. Use the variables X and Y to represent the values of shares of Company X and Company Y.
b. Solve for the value of a share of Company X and Company Y. Show your work so you can get partial credit even if your final answer is wrong.
----
Solve by any method you know to get:
Eq #1: 2000x + 10000y = 340000
Eq #2: 8000x + 6000y = 340000
---
Divide thru both of those equations by 1000 to get:
Eq #1: 2x + 10y = 340
Eq #2: 8x + 6y = 340
-------------------------
Multiply thru the 1st equation by 4:
Eq #1: 8x + 40y = 1360
Eq #2: 8x + 6y = 340
-------------------------
Subtract the 2nd Eq from the 1st to solve for "x":
34y = 1020
y = 30
-------------
Substitute into 2x + 10y = 340 to solve for "x":
2x + 10*30 = 340
2x = 40
x = 20
=======================================
Final Answer:
X = $20
Y = $30
====================
Cheers,
Stan H.

RELATED QUESTIONS
2. Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total... (answered by Mathtut)

Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total... (answered by Theo)

Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total... (answered by jrfrunner)

This is Reginald again with the second question. Suppose Bob owns 8,000 shares of... (answered by DeepaEvangeline)

suppose tom owns 2,000 shares of company X and 10,000 shares of company Y. The total... (answered by Theo)

Suppose Bob owns 2,000 shares of Company X and 10,000 shares of Company Y. The total... (answered by stanbon)

Can you please help me with this problem...Thank you Suppose Bob owns 2,000 shares of... (answered by stanbon)

Answer the question and solve the problems below. Make sure you show all your work so... (answered by JBarnum)

samantha, lauren, and jerry own shares of the same stock with a total value of $7,650. if (answered by stanbon)