document.write( "Question 1136670: Norman and Suzanne own 28 shares of a fast food restaurant stock and 68 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisting of these two stocks was worth $1488.00. The closing price of the fast food restaurant stock was $24 more per share than the closing price of the toy company stock on that day. What was the closing price of each stock on that day? \n" ); document.write( "

Algebra.Com's Answer #754469 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "It is easy to solve using a \"single equation setup\".\r\n" );
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document.write( "Let x be the closing price of one fast food share.\r\n" );
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document.write( "Then the closure price of one toy company stock is (x-24) dollars.\r\n" );
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document.write( "The equation for total stock portfolio is\r\n" );
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document.write( "    28x + 68*(x-24) = 1488  dollars.\r\n" );
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document.write( "It is your base equation. From the equation,\r\n" );
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document.write( "    x =  = 32.50.\r\n" );
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document.write( "Answer.  $32.50 for one fast food share and 32.50 - 24 = 8.50 dollars for one share of the toy company.\r\n" );
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document.write( "CHECK.   32.50*28 + 8.50*68 = 1488 dollars.    ! Correct !\r\n" );
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