Investor Dan has $740,000 to invest in a CD and a mutual fund. The CD yields 3.6% and the mutual fund yields an average of 8.4%. The mutual fund requires a minimum investment of $19,000, and Dan requires that at least 4 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter 0 if no investment can be made satisfying the requirements. $ . Round to the NEAREST CENT.
Investor Dan has $740,000 to invest in a CD and a mutual fund. The CD yields 3.6% and the mutual fund yields an average of 8.4%. The mutual fund requires a minimum investment of $19,000, and Dan requires that at least 4 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter 0 if no investment can be made satisfying the requirements. $ . Round to the NEAREST CENT.
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...
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Investor Dan has $740,000 to invest in a CD and a mutual fund. The CD yields 3.6% and the mutual fund yields an average of 8.4%. The mutual fund requires a minimum investment of $19,000, and Dan requires that at least 4 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter 0 if no investment can be made satisfying the requirements.
$ . Round to the NEAREST CENT.
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