SOLUTION: Mary Jo spends $1,860 to buy stock in two companies. She pays $15 a share to one of the companies and $26 a share to the other. If she ends up with a total of 80 shares, how many s

Algebra ->  Functions -> SOLUTION: Mary Jo spends $1,860 to buy stock in two companies. She pays $15 a share to one of the companies and $26 a share to the other. If she ends up with a total of 80 shares, how many s      Log On


   

Question 1033246: Mary Jo spends $1,860 to buy stock in two companies. She pays $15 a share to one of the companies and $26 a share to the other. If she ends up with a total of 80 shares, how many shares did she buy at $15 a share and how many did she buy at $26 a share?
She bought
shares at $15 and
shares at $26.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Mary Jo spends $1,860 to buy stock in two companies. She pays $15 a share to one of the companies and $26 a share to the other. If she ends up with a total of 80 shares, how many shares did she buy at $15 a share and how many did she buy at $26
a share?
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f + t = 80 shares
15f + 26t = 1860 dollars
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15f + 15t = 15*80
15f + 26t = 1860
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Subtract and solve for "t"::
11t = 660
t = 60 (# of shares of $26 shares)
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f = 80-26 = 54 shares (# of $15 shares)
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Cheers,
Stan H.
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She bought
shares at $15 and
shares at $26.