Norman and Suzanne own 34 shares of a fast food restaurant stock and 70 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 $1488.00. The closing price of the fast food restaurant stock was $30 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?

Question

Hadley Reyes

Mathematics

15 November, 09:42

Norman and Suzanne own 34 shares of a fast food restaurant stock and 70 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 $1488.00. The closing price of the fast food restaurant stock was $30 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?

+3

Answers (1)

Know the Answer?

Miley Foster · Answer 1

1488=34F+70T

F=T+30

this is the system of equations heeded o solve this problem. because we are given that both stocks together are equal to $1488. we are also told that here are 34 share of the fast food stock. and there are 70 shares of the toy stock. each share has an unknown value. this is where i get the. 34F and 70T. we are told that one fast food share (F) is equal to $30 more than the toy share (T) so f=t+30.

solve he system of equations. they give you the value of f is t+30. so plug that into the original equation (1488=34F+70T) in placeof F so the new equation is 1488=34 (T+30) + 70T

combine like terms and solve for T. plug the value of T into the original equation and solve for F. check your work by plugging both of your answers (answer for F and answer for T) into the original equation.