SOLUTION: Norman and Suzanne own 39 shares of a fast food stock and 71 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisti

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Norman and Suzanne own 39 shares of a fast food stock and 71 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisti      Log On


   

Question 1054007: Norman and Suzanne own 39 shares of a fast food stock and 71 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 $1424.00. The closing price of the fast food restaurant stock was $21.00 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?
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
Let t be the price of the toy company. Then:
71t+39(t+21)=1424
110t=605
t=5.5
The toy company stock was $5.50/share; the fast food stock was $26.50/share. ☺☺☺☺