Question 1Uncle Roger has $24,000 to invest, some in bonds and the rest in stocks. He has decided that themoney invested in bonds must be at least twice as much as that in stocks. But the money investedin bonds must not exceeds $18,000. If the bonds earn 6% and the stocks earn 8%, how much moneyshould he invest in each to maximize his earning?

Given, Uncle Roger has $24,000 to invest, some in bonds and the rest in stocks. He has decided that…

Answered: Uncle Roger has $24,000 to invest, some…

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter12: Algebra Of Matrices

Section12.CR: Review Problem Set

Problem 37CR

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Similar questions

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 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

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Uncle Roger has $24,000 to invest, some in bonds and the rest in stocks. He has decided that the money invested in bonds must be at least twice as much as that in stocks. But the money invested