Question

Dave took 8/9 of his savings and decided to invest it. With his investments, 2/3 of it will go into the Canadian stock market. Amongst his Canadian stocks, 1/2 of it will be invested into oil companies. If Dave had $100,000 in his savings account, how much did he invest into Oil companies?

a) Write an equation to represent the scenario

b) Solve the equation and find out how many bags he can make:

Answer 1

Dave invested approximately $29,629.63 into Oil companies.

Explanation:

8/9 (100,000) = i

i= $88,888.89

2/3(88,888.89)=c

c = $29,259.26

1/2(29,259.26)=o

o= $29,629.63