An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 8% and the mutual fund yields 6%. The mutual fund requires a minimum investment of $10,000, and the nvestor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund o maximize the eturn? What is the maximum return? o maximize income, the investor should place $ in CDs and $ C in the mutual fund. (Round to the nearest dollar as needed.)

An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 8% and the mutual fund yields 6%. The mutual fund requires a minimum investment of $10,000, and the nvestor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund o maximize the eturn? What is the maximum return? o maximize income, the investor should place $ in CDs and $ C in the mutual fund. (Round to the nearest dollar as needed.)

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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