A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 5% annual interest and in mutual funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $25 million in mutual funds. Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest? (cm) million and the amount that should be invested in mutual funds is $ The amount that should be invested in Treasury bonds is S million. 4
A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 5% annual interest and in mutual funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $25 million in mutual funds. Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest? (cm) million and the amount that should be invested in mutual funds is $ The amount that should be invested in Treasury bonds is S million. 4
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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Transcribed Image Text:A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 5% annual interest and in mutual
funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $25 million in mutual funds. Bonds have an
initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more
than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest?
(TEKEH)
million and the amount that should be invested in mutual funds is S
The amount that should be invested in Treasury bonds is S
million.
4
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