An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 9% and the mutual fund yields 6%. 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 return? What is the maximum return? To maximize income, the investor should place $ in CDs and $ in the mutual fund. (Round to the nearest dollar as needed.)

An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 9% and the mutual fund yields 6%. 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 return? What is the maximum return? To maximize income, the investor should place $ in CDs and $ in the mutual fund. (Round to the nearest dollar as needed.)

Name: An investor has $70,000 to invest in a CD and a mutual fund. The CD y
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Description: An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 9% and the mutual fund yields 6%. 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 i

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter6: Linear Systems

Section6.CR: Chapter Review

Problem 70E: A company manufactures two fertilizers, x and y. Each 50-pound bag of fertilizer requires three...

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