Final answer:
Ty has 7 $1 bills and 8 $5 bills.
Step-by-step explanation:
Let x represent the number of $1 bills and y represent the number of $5 bills.
We can set up the following system of linear equations:
x + y = 15 (equation 1)
1x + 5y = 47 (equation 2)
To solve the system, we can use the method of substitution or elimination. Let's use the method of substitution:
From equation 1, we can express x in terms of y: x = 15 - y.
Substituting this expression for x in equation 2:
1(15 - y) + 5y = 47
15 - y + 5y = 47
15 + 4y = 47
4y = 47 - 15
4y = 32
y = 32/4
y = 8
Now that we have the value of y, we can substitute it back into equation 1 to find x:
x + 8 = 15
x = 15 - 8
x = 7
Therefore, Ty has 7 $1 bills and 8 $5 bills.