Answer:
Number of 12$ Shares? 25
Number of 14$ Shares? 57
Explanation:
Let x = number of $12 shares.
Let y = number of $14 shares.
"Ivan has $1098 worth of $12 and $14 stock shares."
12x + 14y = 1098
The number of $14 shares is seven more than twice the number of $12 shares.
y = 2x + 7
We have a system of equations.
12x + 14y = 1098
y = 2x + 7
We can use the substitution method since the second equation is already solved for y. Substitute 2x + 7 for y in the first equation.
12x + 14(2x + 7) = 1098
12x + 28x + 98 = 1098
40x = 1000
x = 25
There are 25 $12 shares.
y = 2x + 7 = 2(25) + 7 = 57
There are 57 $14 shares.
Check:
25 × $12 + 57 × $1`4 = $300 + $798 = $1098
The total value is correct, so the answer is correct.