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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 & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter2: Equations And Inequalities
Section: Chapter Questions
Problem 62RE
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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.)
Transcribed Image Text: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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