Please help, I've spent 6 hours on this?
Question:
In an Individual Retirement Account valued at $53,900, a couple has 500 shares of stock, some in Big Bank Corporation and some in Safe Savngs and Loan. If Big Bank sells for $115 per share and Safe Savings sells for $97 per share, how many shares of each does the couple own?
The first person that can explain how to get the algebraic expression(and is right) will get the points!
Answer:
bigbank = b
safe save = s
b+s=500 --- (1)
115b+97s=53900 --- (2)
b=500-s --(3)
(3)->(2)
115(500-s) + 97s = 53900
57500-53900 = 18s
s=200
b=500-200
b=300
viola
s=200
b=300
do i get da pnts? thx..
Not enough to please the IRS.
There are two equations:
x + y = 500
115x + 97y = 53,900
Solve the first equation for x such that:
x = 500 - y
Substitute for x in the second equation, such that:
115(500 - y) + 97y = 53,900
Simplify that equation:
57,500 - 115y + 97y = 53,900
Simplify again:
57,500 - 18y = 53,900
Subtract 53,900 from both sides of the equation:
3,600 - 18y = 0
Add 18y to both sides of the equation:
3600 = 18y
Divide both side by 18:
200 = y
Substitute for y in the first equation:
x + 200 = 500
Subtract 200 from both sides:
x = 300
Let x = the number of shares in Big Bank Corp and let y = number of shares in Safe Savings
We know that the total number of shares is equal to 500 and that the first equation would be:
x + y = 500
We also know that the total value of the account is $53,900 and from that the next equation follows:
$115x + $97y = $53,900
Now solve the second equation for either x or y and substitute that answer into the first equation
x = 500 - y
115 (500 - y) + 97y = 53900
57500 - 115y +97y = 53900
-18y = -3600
y = 200
substitiuting for y into the first equation:
x + 200 = 500
x = -200+500 = 300
A couple cannot own an Individual Retirement Account.
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