Bernadette intends to invest up to ₱50,000 in either Best Fund, or a time deposit or both. The Best Fund pays 8% per year and the time deposit pays 9%. Because the Best Fund is riskier than the time deposit, so she intends to put at most ₱30,000 into the time deposit and at least ₱10,000 into the Best Fund. How much should she allot to each investment in order to maximize her returns?

Bernadette intends to invest up to ₱50,000 in either Best Fund, or a time deposit or both. The Best Fund pays 8% per year and the time deposit pays 9%. Because the Best Fund is riskier than the time deposit, so she intends to put at most ₱30,000 into the time deposit and at least ₱10,000 into the Best Fund. How much should she allot to each investment in order to maximize her returns?

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter2: Working With Real Numbers

Section2.3: Rules For Addition

Problem 6P

See similar textbooks

Similar questions

What is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?
Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what would his monthly deposits need to be if he invests in an account offering a 4.2% annual interest rate that compounds monthly?
Christian has been offered a new job that pays $24,000 a year plus 3% of sales. For what total sales would this new job pay more than his current job which pays $60,000?
At the Pizza Dude restaurant, a 12-in. pizza costs 5.40 to make, and the manager wants to make at least 4.80 from the sale of each pizza. If the pizza will be sold by the slice and each pizza is cut into 6 pieces, what is the minimum charge per slice?
Elliot has a landscape maintenance business. His monthly expenses are $1,100. If he charges $60 per job, how many jobs must he do to earn a profit of at least $4,000 a month?