Investor Dan has $794,000 to invest in a CD and a mutual fund. The CD yields 5% and the mutual fund yields an average of 7.1%. The mutual fund requires a minimum investment of $9,000, 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

Investor Dan has $794,000 to invest in a CD and a mutual fund. The CD yields 5% and the mutual fund yields an average of 7.1%. The mutual fund requires a minimum investment of $9,000, 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

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter2: Equations And Inequalities

Section: Chapter Questions

Problem 62RE

See similar textbooks

Similar questions

Making furniture Two woodworkers, Chase and Devin, get 100 for making a table and 80 for making a chair. On average, Chase must work 3 hours and Devin 2 hours to make a chair. Chase must work 2 hours and Devin 6 hours to make a table. If neither wishes to work more than 42 hours per week, how many tables and how many chairs should they make each week to maximize their income? Find the maximum income. Table Chair Time Available Devins Time hr 6 2 42 Chases Time hr 2 3 42 Income 100 80
In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175 on each business return, find the maximum profit. An accountant prepares tax returns for individuals and for small businesses. On average, each individual return requires 3 hours of her time and 1 hour of computer time. Each business return requires 4 hours of her time and 2 hours of computer time. Because of other business considerations, her time is limited to 240 hours, and the computer time is limited to 100 hours. If she earns a profit of 80 on each individual return and a profit of 150 on each business return, how many returns of each type should she prepare to maximize her profit?
Making crafts Two artists, Nine and Rob, make yard ornaments. They get 80 for each wooden snowman they make and 64 for each wooden Santa Claus. On average, Nina must work 4 hours and Rob 2 hours to make a snowman. Nina must work 3 hours and Rob 4 hours to make a Santa Claus. If neither wishes to work more than 20 hours per week, how many of each ornament should they make each week to maximize their income? Find the maximum income. Snowman Santa Claus Time Available Robs Time hr 2 4 20 Ninas Time hr 4 3 20 Income 80 64
A company manufactures two fertilizers, x and y. Each 50-pound bag of fertilizer requires three ingredients, which are available in the limited quantities shown in the table. The profit on each bag of fertilizer x is 6 and on each bag of y is 5. How many bags of each product should be produced to maximize the profit? Ingredient Number of Pounds in Fertilizer x Number of Pounds in Fertilizer y Total number of Pounds Available Nitrogen 6 10 20,000 Phosphorus 8 6 16,400 Potash 6 4 12,000
Production Manufacturing DVRs and TVs requires the use of the electronics, assembly, and finishing departments of a factory, according to the following schedule: Hours for DVR Hours for TV Hours Available per Week Electronics 3 4 180 Assembly 2 3 120 Finishing 2 1 60 Each DVR has a profit of 40, and each TV has profit of 32. How many DVRs and TVs should be manufactured weekly to maximize profit? Find the maximum profit.