Money and Mixture Problems: Suppose Wal-Mart stock is selling at $59 a share and

Question

Money and Mixture Problems:
Suppose Wal-Mart stock is selling at $59 a share and Mattel stock is selling at $28 a share. Amy has a maximum of $6000 to invest. She wishes to purchase four times as many shares of Wal-Mart as of Mattel. Only whole shares of stock can be purchased.
a) How many shares of each will she purchase?
b) How much money will be left over? Money and Mixture Problems:
Suppose Wal-Mart stock is selling at $59 a share and Mattel stock is selling at $28 a share. Amy has a maximum of $6000 to invest. She wishes to purchase four times as many shares of Wal-Mart as of Mattel. Only whole shares of stock can be purchased.
a) How many shares of each will she purchase?
b) How much money will be left over? Money and Mixture Problems:
Suppose Wal-Mart stock is selling at $59 a share and Mattel stock is selling at $28 a share. Amy has a maximum of $6000 to invest. She wishes to purchase four times as many shares of Wal-Mart as of Mattel. Only whole shares of stock can be purchased.
a) How many shares of each will she purchase?
b) How much money will be left over?

Explanation / Answer

Mattel Share = X

Wal-Mart = Y

Y = 4X

59Y + 28X =6000

59(4X) + 28X = 6000

264X = 6000

X = 6000/264

22.72727

So X =22 and Y = 88

$192 left

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