Problem PS-219b An investor has $3 million available (constraint (1)) for investment in exchange traded funds (A and B), fixed income certificates (C and D) and real estate projects (E and F). The investor wants to maximize the total return earned over the next year. The investment instruments and expected returns are shown in the table. Investment instrument Expected return A (Exchange traded fund) 0.0410 B (Exchange traded fund) 0.0420 C (fixed income certificate) 0.0330 D (fixed income certificate) 0.0350 E (real estate project) 0.0390 F (real estate project) 0.0410 Constraint (2): The investor wants the total amount invested in both real estate projects to be at least $1 million. - Constraint (3): The investor wants the total amount invested in both exchange traded funds to be no more than $900,000. - Constraints (4 and 5): The amount invested in any one exchange traded fund cannot exceed $750,000. - Constraints (6 and 7): The amount invested in any one fixed income certificate cannot exceed $800,000. Constraints (8 and 9): The amount invested in any one real estate project cannot exceed $600,000. Model and solve this problem in Excel. Save your work so that you can use it to answer other questions in this exam. The slack or surplus for constraint (8) is: O Less than $100,000 Greater than or equal to $100,000 and less than $200,000 O Greater than or equal to $200,000 and less than $300,000 Greater than or equal to $300,000 and less than $400,000 O Greater than or equal to $400,000 and less than $500,000 Greater than or equal to $500,000 and less than $600,000 O Greater than or equal to $600,000 and less than $700,000 O Greater than or equal to $700,000 and less than $800,000 Greater than or equal to $800,000 None of the other answers is correct