Answered: Formulate but do not solve the problem.…

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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Related questions

Question

Formulate but do not solve the problem.

The annual returns on Sid Carrington's three investments amounted to $11,440: 2% on a savings account, 4% on mutual funds, and 6% on bonds. The amount of Sid's investment in bonds was twice the amount of his investment in the savings account, and the interest earned from his investment in bonds was equal to the dividends he received from his investment in mutual funds. Find how much money he placed in each type of investment. (Let x, y, and z denote the amount, in dollars, in savings, mutual funds, and bonds, respectively.)

11,440

0.04y

Expert Solution

Step 1

Here, in the question, we have to formulate the problem, according to the concept of the equation and linear programming. The annual returns of Sid.'s Carrington's three investments amounted to $$ 11440$ with $2 %$ on the savings account, $4 %$ on mutual funds and $6 %$ on bonds. The amount of Sid's investment in bonds was twice the amount of his investment in the savings account. So we have to find out the money placed in each investment.

Any equation can be represented in the variable form and we can linearly program it. But in the question only we have to formulate the problem. Rest everything is in the formula itself.