PLEASE HELP

[JOSH BAR]

In July 2004, Consolidated Edison (ED) cost $40 per share and yielded 5.5% per year in dividends, while Keyspan Corp (KSE) cost $36 per share and yielded 5% per year in dividends†. If you invested a total of $9,200 in these stocks and earned $470 in dividends in a year, how many shares of each stock did you purchase? (Assume the dividend rate was unchanged for the year.)
Consolidated Edison 1._____ shares
Keyspan Corp 2._____ shares


I know I have to set up a system of linear equations, but I have no idea how to get started?

 

[BigGlenntheHeavy]

\(\displaystyle ED \ = \ (9200-x)(1.055)\)

\(\displaystyle KSE \ = \ x(1.05)\)

\(\displaystyle ED+KSE \ = \ 9200+470 \ = \ 9670 \ = \ 9706-.005x\)

\(\displaystyle Hence, \ x \ = \ 7200.\)

\(\displaystyle ED \ = \ 2000/40 \ = \ 50 \ shares\)

\(\displaystyle KSE \ = \ 7200/36 \ = \ 200 \ shares\)

 

[JOSH BAR]

Thanks alot, you should me a much easier way to do it than my professor.

 

[mmm4444bot]

… much easier way to do it than my professor.

I suggest that you stop doing your professor.