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Please answer carefully Michael has decided to invest $40,000 in three types of funds. Fund A has projected an annual return of 8 percent Fund
Please answer carefully
Michael has decided to invest $40,000 in three types of funds. Fund A has projected an annual return of 8 percent Fund B has projected an annual return of 10 percent, and Fund Chas projected an annual return of 9 percent. He has decided to invest no more than 30 percent of the total amount in Fund B and no more than 40 percent of the total amount in Fund C. a. Formulate a linear programming model that can be used to determine the amount of investments Michael should allocate to each type of fund to maximize the total annual return. b. How much should be allocated to each type of fund? What is the total annual returnStep by Step Solution
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