Investor Dan has $758,000 to invest in a CD and a mutual fund. The CD yields 4.2% and the mutual fund yields an average of 8.7%. The mutual fund requires a minimum investment of $17,000, and Dan requires that at least 5 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 O if no investment can be made satisfying the requirements. $ Round to the nearest cent. tA

Investor Dan has $758,000 to invest in a CD and a mutual fund. The CD yields 4.2% and the mutual fund yields an average of 8.7%. The mutual fund requires a minimum investment of $17,000, and Dan requires that at least 5 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 O if no investment can be made satisfying the requirements. $ Round to the nearest cent. tA

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter6: Linear Systems

Section6.8: Linear Programming

Problem 3SC: In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175...

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