Question
Question- An investor has $60,000 to invest in a CD and a mutual fund.The CD yields 5% and the mutual fund yields an average of
Question- An investor has $60,000 to invest in a CD and a mutual fund.The CD yields 5% and the mutual fund yields an average of 9%. The mutual fund requires a minimum investment of $10,000, the investors require that at least twice as much should be invested in Cds as in the mutual fund.How much should be invested in CDs and how much in the mutual fund to maximize the return. What is the maximum return
Instruction- 1. Write the text of the question.2. Name the variables and show the system of inequalities.3. Show the solving process.4. Make a graph. You can use an app or draw very neat and use a ruler.5. Show corner points on the graph.6. Discuss which are the minimum/maximum points and their meaning.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started