The SEQUEL financial group is considering three different technology stocks to complement its portfolio: Apple, Microsoft Corporation, and FactSet. The brokers have given the manager the following information:

	Short-term growth (per $ invested)	Intermediate growth (per $ invested)	Dividend rate
Apple	0.27	1.71	5%
Microsoft	0.39	1.43	6%
FactSet	0.37	1.58	7%

The SEQUEL criteria are as follows: 1) The investment should yield short-term growth of at least $850; 2) the investment should yield intermediate-term growth of at least $5500; 3) the dividends should be at least $200 per year. Determine the least amount SEQUEL can invest and how that investment should be allocated between the three stocks.

PLEASE SHOW. STEP BY STEP USING EXCEL AND SHOWING FORMULAS.

	Apple	Microsoft	FactSet
$ invested
Investment
Constraints
Short term growth
Intermediate growth
Dividend income
				LHS	Sign	RHS