SOLUTION: Norman and suzanne own 37 shares of a fast food restaurant stock and 71 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfoli
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Question 823961: Norman and suzanne own 37 shares of a fast food restaurant stock and 71 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 $1664.00. The closing price of the fast food restaurant stock was $26 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?
The price per share of the fast food restaurant stock is $?
The price per share of the toy company stock is $? Answer by TimothyLamb(4379) (Show Source):
You can put this solution on YOUR website! ---
x = share price food stock
y = share price toy stock
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37x + 71y = 1664
x = y + 26
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put the system of linear equations into standard form
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37x + 71y = 1664
x - y = 26
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answer:
x = share price food stock = $32.50
y = share price toy stock = $6.50
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