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Please help, I've spent 6 hours on this?

I know the answer to this problem (it is in the back of my book), but I cannot figure out the equation.

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!

5 Answers

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  • Anonymous
    1 decade ago
    Favorite 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..

  • MT C
    Lv 6
    1 decade ago

    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

  • 1 decade ago

    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

  • 1 decade ago

    A couple cannot own an Individual Retirement Account.

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  • 1 decade ago

    Not enough to please the IRS.

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