SOLUTION: I have tried to figure out the equation to solve this problem. I have had friends help and together we could not find the anwser. I looked in the back to get the anwser and I can
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Question 167043This question is from textbook Intermediate Algebra
: I have tried to figure out the equation to solve this problem. I have had friends help and together we could not find the anwser. I looked in the back to get the anwser and I can not figure out how to get the solution. I am trying to find out how many shares of each the pension fund owns.
A pension fund owns 2,000 fewer shares in mutual stock than mutual bond funds. Currently, the stock funds sell for $12 per share and the bonds sell for $15 per share. How many shares of each does the pension fund own if the value of the securities is $165,000. This question is from textbook Intermediate Algebra
You can put this solution on YOUR website! A pension fund owns 2,000 fewer shares in mutual stock than mutual bond funds. Currently, the stock funds sell for $12 per share and the bonds sell for $15 per share. How many shares of each does the pension fund own if the value of the securities is $165,000
:
Let x = number of mutual bond fund share
:
It says mutual stock is 2000 fewer, so we can say:
(x - 2000) = no. of mutual stock shares
:
A simple equation:
Bond sh value + stock sh value = total value
15x + 12(x-2000) = 165000
:
15x + 12x - 24000 = 165000
:
27x = 165000 + 24000
:
27x = 189000
x =
x = 7000 sh of mutual bond shares
then
7000 - 2000 = 5000 sh of mutual stock shares
:
:
Check our solutions:
15(7000) + 12(5000) =
105000 + 60000 = 165000
