A Pension Fund Owns 5,000 Fewer Shares in Mutual Stock

Multiple Choice

A pension fund owns 5,000 fewer shares in mutual stock funds than mutual bond funds. Currently, the stock funds sell for $12 per share, and the bond funds sell for $15 per share. How many shares of each does the pension fund own if the value of the securities is $129,000?

A) 1,000 shares of stock funds, 7,000 shares of bond funds
B) 2,000 shares of stock funds, 7,000 shares of bond funds
C) 2,000 shares of stock funds, 8,000 shares of bond funds
D) 1,000 shares of stock funds, 8,000 shares of bond funds
E) 2,000 shares of stock funds, 6,500 shares of bond funds