Investor Matt has $698,000 to invest in bonds.  Bond A yields an average of 5.8% and the bond B yields 7.3%.  Matt requires that at least 4 times as much money be invested in bond A as in bond B.  You must invest in these bonds to maximize his return.  What is the maximum return? $                       per year.  Round to the nearest cent.

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 87TPC
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Investor Matt has $698,000 to invest in bonds.  Bond A yields an average of 5.8% and the bond B yields 7.3%.  Matt requires that at least 4 times as much money be invested in bond A as in bond B.  You must invest in these bonds to maximize his return.  What is the maximum return?

$                       per year.  Round to the nearest cent.

appreciate the help

thx!

))

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