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PLEASE USE THE FOLLOWING EXCEL MODEL TO SOLVE USING SOLVER 12) A bank is attempting to determine where its assets should be allocated in order
PLEASE USE THE FOLLOWING EXCEL MODEL TO SOLVE USING SOLVER
12) A bank is attempting to determine where its assets should be allocated in order to maximize its annual return. At present, $750,000 is available for investment in three types of mutual funds: A, B, and C. The annual rate of return on each type of fund is as follows: fund A, 15\%; fund B, 12\%; fund C; 13\%. The bank's manager has placed the following restrictions on the bank's portfolio: - No more than 20% of the total amount invested may be in fund A. - The amount invested in fund B cannot exceed the amount invested in fund C. Determine the optimal allocation that maximizes the bank's annual return. A B C D GStep by Step Solution
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