Investor Matt has $782,000 to invest in a CD and a mutual fund. The CD yields 4% and the mutual fund yields an average of 5.1%. The mutual fund requires a minimum investment of $16,000, and Matt requires that at least 3 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. What is the maximum return? Enter 0 if no investment can be made satisfying the requirements. $ . Round to the NEAREST CENT.

Investor Matt has $782,000 to invest in a CD and a mutual fund. The CD yields 4% and the mutual fund yields an average of 5.1%. The mutual fund requires a minimum investment of $16,000, and Matt requires that at least 3 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. What is the maximum return? Enter 0 if no investment can be made satisfying the requirements. $ . Round to the NEAREST CENT.

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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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?
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