SOLUTION: Jane has $16,000 invested in HP and Intel stock. The HP stock currently sells for $30 a share and the Intel stock for $70 a share. If Intel stock triples in value and HP stock go

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Jane has $16,000 invested in HP and Intel stock. The HP stock currently sells for $30 a share and the Intel stock for $70 a share. If Intel stock triples in value and HP stock go      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 424866: Jane has $16,000 invested in HP and Intel stock. The HP stock
currently sells for $30 a share and the Intel stock for $70 a share. If Intel
stock triples in value and HP stock goes up 50%, her stock will be worth
$34,500. How many shares of each stock does she own? (show step by step)
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let a = shares of HP she holds
Let b = shares of Intel she holds
given:
(1) +30a+%2B+70b+=+16000+
(2) +1.5%2A30a+%2B+3%2A70b+=+34500+
----------------------------
(2) +45a+%2B+210b+=+34500+
(2) +3a+%2B+14b+=+2300+
Multiply both sides of (2) by 10
and subtract (1) from (2)
(2) +30a+%2B+140b+=+23000+
(1) +-30a+-+70b+=+-16000+
+70b+=+7000+
b+=+100+
and
(2) +3a+%2B+14%2A100+=+2300+
(2) +3a+=+2300+-+1400+
(2) +3a+=+900+
+a+=+300+
300 shares of HP
100 shares of Intel