A trust account client has $340,000 to be invested. The investment choices have current yields of 8%, 7%, and 10%. Suppose that the investment goal is to earninterest of $25,900.(a) Find a general description for the amounts invested at the three rates. (Let x = the amount invested at 8%, y = the amount invested at 7%, andz = the amount invested at 10%. Express your answer in terms of z.)(x, y, 2) =(b) If $15,000 is invested at 10%, how much should be invested at each of the other rates?8% $7%What if $31,000 is invested at 10%?8% $7% $(c) What is the minimum amount that should be invested at 7%?In this case how much should be invested at the other rates?8%10%(d) What is the maximum amount that should be invested at 7%?In this case how much should be invested at the other rates?8%10%

Name: A trust account client has $340,000 to be invested. The investment ch
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Description: A trust account client has $340,000 to be invested. The investment choices have current yields of 8%, 7%, and 10%. Suppose that the investment goal is to earninterest of $25,900.(a) Find a general description for the amounts invested at the three ra

The amount to be invested is: $340,000. The amount of interest needed is: $25,900. x=The amount to…

Math

Advanced Math

A trust account client has $340,000 to be invested. The investment choices have current yields of 8%, 7%, and 10%. Suppose that the investment goal is to earn interest of $25,900. (a) Find a general description for the amounts invested at the three rates. (Let x - the amount invested at 8%, y- the amount invested at 7%, and z the amount invested at 10%. Express your answer in terms of z.) (x, v. )-( (b) If $15,000 is invested at 10%, how much should be invested at each of the other rates? 7% What if $31,000 is invested at 10%? 8% 7% (c) What is the minimum amount that should be invested at 7%? In this case how much should be invested at the other rates? 8% 10% (d) What is the maximum amount that should be invested at 7%? In this case how much should be invested at the other rates? 10%

A trust account client has $340,000 to be invested. The investment choices have current yields of 8%, 7%, and 10%. Suppose that the investment goal is to earn interest of $25,900. (a) Find a general description for the amounts invested at the three rates. (Let x - the amount invested at 8%, y- the amount invested at 7%, and z the amount invested at 10%. Express your answer in terms of z.) (x, v. )-( (b) If $15,000 is invested at 10%, how much should be invested at each of the other rates? 7% What if $31,000 is invested at 10%? 8% 7% (c) What is the minimum amount that should be invested at 7%? In this case how much should be invested at the other rates? 8% 10% (d) What is the maximum amount that should be invested at 7%? In this case how much should be invested at the other rates? 10%

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

A trust account client has $340,000 to be invested. The investment choices have current yields of 8%, 7%, and 10%. Suppose that the investment goal is to earn
interest of $25,900.
(a) Find a general description for the amounts invested at the three rates. (Let x = the amount invested at 8%, y = the amount invested at 7%, and
z = the amount invested at 10%. Express your answer in terms of z.)
(x, y, 2) =
(b) If $15,000 is invested at 10%, how much should be invested at each of the other rates?
8% $
7%
What if $31,000 is invested at 10%?
8% $
7% $
(c) What is the minimum amount that should be invested at 7%?
In this case how much should be invested at the other rates?
8%
10%
(d) What is the maximum amount that should be invested at 7%?
In this case how much should be invested at the other rates?
8%
10%

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