<PRE><B>Question 167043</B>
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 = {{{189000/27}}}
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</PRE>