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An international graduate student will receive a $ 2 8 , 0 0 0 foundation scholarship and reduced tuition. She must pay $ 1 ,

An international graduate student will receive a
$28,000 foundation scholarship and reduced tuition.
She must pay $1,500 in tuition for each of the
autumn, winter, and spring quarters and $500 in the
summer. Payments are due on the first day of Septem-
ber, December, March, and May, respectively. Living
expenses are estimated to be $1,500 per month, pay-
able on the first day of the month. The foundation
will pay her $18,000 on August 1 and the remain-
der on May 1. To earn as much interest as possible,
the student wishes to invest the money. Three types
of investments are available at her bank: a three-
month CD, earning 0.75% at maturity; a six-month
CD, earning 1.9% at maturity; and a 12-month CD,
earning 4.2% at maturity. Develop a linear optimiza-
tion model to determine how she can best invest the
money and meet her financial obligations. (Please put everything into an excle sheet and use a linear optimziation model for all 3 types of investments.)
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