Set Up an Equation That Can Be Used to Solve

question 2

Multiple Choice

Set up an equation that can be used to solve the problem. Solve the equation and answer the question asked.
-An accountant receives a salary of $270,775 per year. During the year, he plans to spend $97,000 on his mortgage, $52,000 on food, $39,000 on clothing, $45,000 on household expenses, and $29,000 on other expenses.
With the money that is left, he expects to buy as many shares of stock at $225 per share as possible. How many
Shares will he be able to buy?

• A) 36 shares
• B) 41 shares
• C) 39 shares
• D) 38 shares

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Definitions:

Milk Shortage

A situation in which the supply of milk is insufficient to meet the demand in a given market or area, often leading to increased prices.

Price Ceiling

A legal maximum price set by the government for a particular good or service to prevent prices from becoming too high.

Market Economy

An economic system in which supply and demand from consumers drive the production of goods and services.

Price Floor

Price floor is a government or group-imposed limit below which prices cannot fall, typically set to ensure producers can cover their costs.