In an Individual Retirement Account (IRA) valued at $49,050, a couple has 450 shares of stock, some in Big Bank Corporation and some in Safe Savings 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?
A) 300 shares of Big Bank Corporation and 150 shares of Safe Savings and Loan
B) 310 shares of Big Bank Corporation and 160 shares of Safe Savings and Loan
C) 150 shares of Big Bank Corporation and 300 shares of Safe Savings and Loan
D) 300 shares of Big Bank Corporation and 160 shares of Safe Savings and Loan
E) 310 shares of Big Bank Corporation and 150 shares of Safe Savings and Loan

Question

Quizplus · Accepted Answer

To solve this, let's denote the number of shares of Big Bank Corporation as $x$ and the number of shares of Safe Savings and Loan as $y$. We have two equations based on the information given:1. $x + y = 450$ (total shares)2. $115x + 97y = 49050$ (total value)Solving these equations simultaneously, we can find the values of $x$ and $y$. Multiplying the first equation by 97 (to eliminate $y$ when we subtract it from the second equation) gives us:$97x + 97y = 43650$Subtracting this from the second equation:$115x + 97y - (97x + 97y) = 49050 - 43650$$18x = 5400$$x = 300$Substituting $x = 300$ into the first equation:$300 + y = 450$$y = 150$Therefore, the couple owns 300 shares of Big Bank Corporation and 150 shares of Safe Savings and Loan.

In an Individual Retirement Account (IRA) Valued at $49,050, a Couple