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How do I do this in excel. I think I am supposed to use Solver but I am very confused? 1 Part 3 (4 pts):

How do I do this in excel. I think I am supposed to use Solver but I am very confused?image text in transcribed

1 Part 3 (4 pts): $250,000 available for investments providing greatest return after one year 2 Data: 3 Condominium cost $50,000/unit; $9,000 profit if sold after one year. You can't buy fractional condominiums. 4Land cost $12,000/ acre; $1,500 profit/acre if sold after one year. You can buy fractional acres of land. 5 Municipal bond cost $8,000/bond; $1,100 profit if sold after one year. You can't buy fractional bonds. 6 Only 4 condominiums, 15 acres of land, and 20 municipal bonds available. 7What mix of investments do you purchase to maximize your profit after year 1? 9 (Solution: 4 condos, .167 acres of land, 6 bonds, $42850 profit) 10 1 Part 3 (4 pts): $250,000 available for investments providing greatest return after one year 2 Data: 3 Condominium cost $50,000/unit; $9,000 profit if sold after one year. You can't buy fractional condominiums. 4Land cost $12,000/ acre; $1,500 profit/acre if sold after one year. You can buy fractional acres of land. 5 Municipal bond cost $8,000/bond; $1,100 profit if sold after one year. You can't buy fractional bonds. 6 Only 4 condominiums, 15 acres of land, and 20 municipal bonds available. 7What mix of investments do you purchase to maximize your profit after year 1? 9 (Solution: 4 condos, .167 acres of land, 6 bonds, $42850 profit) 10

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