Question 321420: norman and suzanne own 38 shares of a fast food restaurant stock and 64 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 $1779. the closing price of the fast food restaurant 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?
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! 38(x+24)+64x=1,779
38x+912+64x=1,779
102x=1,779-912
102x=867
x=867/102
x=8.50 ans. for the value of the toy company stock.
8.50+24=32.50 ans. for the value of the fast food stock.
Proof:
38*32.50+64*8.50=1,779
1,235+544=1,779
1,779=1,779
|
|
|
