An investor has $80,000 to invest in a CD and a mutual fund. The CD yields 6% and the mutual fund yields 8%. The mutual fund requires a minimum investment of $10,000, 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 return? What is the maximum return? in CDs and $ To maximize income, the investor should place $ in the mutual fund. (Round to the nearest dollar as needed.)

An investor has $80,000 to invest in a CD and a mutual fund. The CD yields 6% and the mutual fund yields 8%. The mutual fund requires a minimum investment of $10,000, 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 return? What is the maximum return? in CDs and $ To maximize income, the investor should place $ in the mutual fund. (Round to the nearest dollar as needed.)

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

An investor has $80,000 to invest in a CD and a mutual fund. The CD yields 6% and the mutual fund yields 8%. The mutual fund requires a minimum investment of
$10,000, 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 return? What is the maximum return?
in CDs and $
To maximize income, the investor should place $
in the mutual fund. (Round to the nearest dollar as needed.)

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