SOLUTION: in an IRA valued at $53,900, a couple owns 500 shares of stock. some in big bank and some in safe savings. big bank sells for $115 and safe save sells for $97 how many shares of ea
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Question 181391: in an IRA valued at $53,900, a couple owns 500 shares of stock. some in big bank and some in safe savings. big bank sells for $115 and safe save sells for $97 how many shares of each do they own Answer by Mathtut(3670) (Show Source):
You can put this solution on YOUR website! we have to assume that the entire value of the investment are in these stocks to do this problem
:
let x and y be the number of shares in big bank and safe save respectively
:
x+y=500.........eq 1
115x+97y=53900..eq 2
:
rewrite eq 1 to x=500-y and plug it into eq 2
:
115(500-y)+97y=53900
:
57500-115y+97y=53900
:
-18y=-3600
: shares of safe save
: shares of big bank
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