Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.6: Percent Applications
Problem 28E
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Question
Investor Matt has $791,000 to invest in bonds. Bond A yields an average of 9.6% and the bond B yields 7.3%. Matt requires that at least 4 times as much money be invested in bond A as in bond B. You must invest in these bonds to maximize his return. What is the maximum return?
$ per year. Round to the nearest cent.
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