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Investing in Bonds A woman wishes to invest $12,000 in three types of bonds: municipal bonds paying 7% interest per year, bank certificates paying 8%, and high-risk bonds paying 12%. For tax reasons she wants the amount invested in municipal bonds to be at least three times the amount invested in bunk certificates. To keep her level of risk manage-able, she will invest no more than $2000 in high-risk bonds. How much should she invest in each type of bond to maximize her annual interest yield? [Hint: Let x = amount in municipal bonds and y = amount in bunk certificates. Then the amount in high-risk bonds will be 12,000 − x − y.]
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Chapter 10 Solutions
WebAssign Printed Access Card for Stewart/Redlin/Watson's Precalculus, Enhanced Edition, 7th Edition, Single-Term
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
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