# SOLUTION: Sandy has an investment account with shares in two companies, SMT and KLR. At the end of June, when each share of SMT was worth \$9 and each share of KLR was worth \$8, Sandys accoun

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Sandy has an investment account with shares in two companies, SMT and KLR. At the end of June, when each share of SMT was worth \$9 and each share of KLR was worth \$8, Sandys accoun      Log On

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 Question 509032: Sandy has an investment account with shares in two companies, SMT and KLR. At the end of June, when each share of SMT was worth \$9 and each share of KLR was worth \$8, Sandys account was worth \$1600. Three months later, SMT was worth \$7 a share, KLR was worth \$16 a share, and Sandys account was worth \$2320. Find the number of shares that Sandy owns for each of the two companies and determine the value of her account when SMT is priced at \$11 a share and KLR is priced at \$10 a shareAnswer by Theo(3472)   (Show Source): You can put this solution on YOUR website!let x = number of shares of SMT let y = number of shares of KLR 9x + 8y = 1600 (first equation) 7x + 16y = 2320 (second equation) solve these 2 equations simultaneously to get the value of x and y. multiply first equation by 2 to get: 2 * (9x + 8y) = 2 * 1600 which becomes: 18x + 16y = 3200 (third equation) subtract second equation from third equation to get: 18x + 16y = 3200 minus: 7x + 16y = 2320 becomes: 11x = 880 divide both sides of this equation by 11 to get: x = 80 substitute 80 for x in first equation to get: 720 + 8y = 1600 subtract 720 from both sides of this equation to get: 8y = 1600 - 720 = 880 divide both sides of this equation to get: y = 110 you have: x = 80 y = 110 this means that: number of shares of SMT = 80 number of shares of KLR = 110 plug these values into your original equations to confirm they are good. 9x + 8y = 1600 (first equation) 7x + 16y = 2320 (second equation) become: 9*80 + 8*110 = 1600 (first equation) 7*80 + 16*110 = 2320 (second equation) simplify to get: 1600 = 1600 (first equation) 2320 = 2320 (second equation) values are confirmed to be good. when SMT is equal to \$11 a share and KLR is equal to \$10 a share, the equation becomes: 11*80 + 10*110 = 880 + 1100 = \$1980 that's your answer. number of shares of SMT is 80 number of shares of KLR is 110 value of portfolio when SMT is \$11 a share and KLR is \$10 a share is \$1980.