You have $94,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti House. You would like to invest no more than $12,000 in Garretts Spaghetti House, and you want the amount you invest in MarkyB Inc., to be at least the amount invested in John John Ltd. and Garretts Spaghetti House combined. If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 14% annual interest, and Garretts Spaghetti House earns 9% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest earned? What is the maximum annual interest earned? You should invest $ $ into MarkyB Inc., $ into JohnJohn Ltd., and $ into Garretts Spaghetti House, which will give you give you maximum annual interest
You have $94,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti House. You would like to invest no more than $12,000 in Garretts Spaghetti House, and you want the amount you invest in MarkyB Inc., to be at least the amount invested in John John Ltd. and Garretts Spaghetti House combined. If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 14% annual interest, and Garretts Spaghetti House earns 9% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest earned? What is the maximum annual interest earned? You should invest $ $ into MarkyB Inc., $ into JohnJohn Ltd., and $ into Garretts Spaghetti House, which will give you give you maximum annual interest
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:You have $94,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti House. You would like to invest no more than $12,000 in Garretts Spaghetti House, and you
want the amount you invest in MarkyB Inc., to be at least the amount invested in John John Ltd. and Garretts Spaghetti House combined.
If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 14% annual interest, and Garretts Spaghetti House earns 9% annual interest, how much money (in dollars) should you invest in each stock to
maximize your annual interest earned? What is the maximum annual interest earned?
You should invest $
$
into MarkyB Inc., $
into JohnJohn Ltd., and $
into Garretts Spaghetti House, which will give you give you maximum annual interest
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