Question

Allen is horrible at managing his money. For example, he

Answer 1

Answer:

$80,000

Step-by-step explanation:

Define the variables:

Let x =  "fish-flavored" chicken company investment (in dollars)

Let y = spray-on vitamins company investment (in dollars)

If Allen invested a total of $100,000:

⇒ x + y = 100000

Given:

• 3% profit on "fish-flavored" chicken investment
• 1% profit on pray-on vitamins investment
• Total profit = $2,600

⇒ 0.03x + 0.01y = 2600

Rewrite the first equation to make y the subject:

⇒ y = 100000 - x

Substitute into the second equation and solve for x:

⇒ 0.03x + 0.01(100000 - x) = 2600

⇒ 0.03x + 1000 - 0.01x = 2600

⇒ 0.02x + 1000 = 2600

⇒ 0.02x = 1600

⇒ x = 80000

Therefore, Allen invested $80,000 in the "fish-flavored" chicken company.