Question

A pension fund owns 2,600 fewer shares in mutual stock funds than mutual bond funds. Currently, the stock funds sell for $14 per share, and the bond funds sell for $16 per share. How many shares of each does the pension fund own if the value of the securities is $134,600?

Answer 1

Answer:

19413 shares

24787  bonds

Step-by-step explanation:

Stock price = $14 p/s

Bond funds = $16 p/s

Value given = 134,600

2,600 fewer is given for stock

meaning 2.600 is more for bond

134,600 - (16 x 2600)=41600 combined equal shares

Each shares worth;   14+16 = 30

41600 / 30 = 1386.66667 amount combined

1386.66667 x 14 = 19413 shares

1386.66667 x 16 =22186.6667 + 2600 =  24787  bonds