Theresa has $26 in her wallet. The bills are worth either $5 or $1. If there are 14 bills total, how many does she have of each type?

x = # of $5 y = # of $1

x + y = 14
5x+ y = 26

-x-y = -14
5x + y = 26

4x = 12 x = 3 y = 11

To find out how many bills Theresa has of each type, we can set up a system of equations. Let's say x represents the number of $5 bills and y represents the number of $1 bills.

From the problem statement, we know that the total number of bills is 14. So, our first equation is:
x + y = 14

We also know that the total value of the bills is $26. From this information, we can set up a second equation:
5x + 1y = 26

Now, we can solve this system of equations to find the values of x and y.

Using the first equation, we can solve for x:
x = 14 - y

Substituting this value of x into the second equation, we get:
5(14 - y) + y = 26

Expanding the equation, we have:
70 - 5y + y = 26

Combining like terms, we get:
-4y + 70 = 26

Subtracting 70 from both sides, we have:
-4y = -44

Dividing both sides by -4, we get:
y = 11

Now that we know the value of y, we can substitute it back into the first equation to solve for x:
x + 11 = 14
x = 14 - 11
x = 3

Therefore, Theresa has 3 $5 bills and 11 $1 bills.