An investor has $75,000 to invest in a CD and a mutual fund. The CD yieids 9% and the mutual fund yields 7%. The mutual fund requires a minimum investment of $9,000, and the investor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund to maximize the retum? What is the maximum returm? To maximize income, the investor should place s in CDs and sn the mutual fund. (Round to the nearest dollar as needed.) The maximum retum is S (Round to the nearest de lar as needed.)

An investor has $75,000 to invest in a CD and a mutual fund. The CD yieids 9% and the mutual fund yields 7%. The mutual fund requires a minimum investment of $9,000, and the investor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund to maximize the retum? What is the maximum returm? To maximize income, the investor should place s in CDs and sn the mutual fund. (Round to the nearest dollar as needed.) The maximum retum is S (Round to the nearest de lar as needed.)

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter8: Functions

Section8.CR: Review Problem Set

Problem 50CR

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