Francisco is planning to invest up to $40,000 in corporate and municipal bonds. The least he is

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Francisco is planning to invest up to $40,000 in corporate and municipal bonds. The least he is allowed to invest in corporate bonds is $6000, and he does not want to invest more than $22,000 in corporate bonds. He also does not want to invest more than $30,000 in municipal bonds. The interest is 3% on corporate bonds and 41/4% on municipal bonds. This is simple interest for one year. How much should he invest in each type of bond in order to maximize his income? What is the maximum income?

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College Algebra Graphs And Models

ISBN: 9780134179032

6th Edition

Authors: Marvin Bittinger, Judith Beecher, David Ellenbogen, Judith Penna

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