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Investor Dan has $119,000 to invest in bonds. Bond A yields an average of 9.4% and the bond B yields 6.4%. Dan requires that at least 2 times as much money be invested in bond A as in bond B. You must invest in these bonds to maximize his return. How much should you invest in bond A? Round to the nearest cent. LA $

Investor Dan has $119,000 to invest in bonds. Bond A yields an average of 9.4% and the bond B yields 6.4%. Dan requires that at least 2 times as much money be invested in bond A as in bond B. You must invest in these bonds to maximize his return. How much should you invest in bond A? Round to the nearest cent. LA $

Advanced Engineering Mathematics
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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Investor Dan has $119,000 to invest in bonds. Bond A yields an average of 9.4% and the bond B yields 6.4%. Dan requires that at least 2 times as much money be invested in bond A as in bond B. You must invest in these bonds to maximize his return. How much should you invest in bond A? $ Round to the nearest cent. tA
Transcribed Image Text:Investor Dan has $119,000 to invest in bonds. Bond A yields an average of 9.4% and the bond B yields 6.4%. Dan requires that at least 2 times as much money be invested in bond A as in bond B. You must invest in these bonds to maximize his return. How much should you invest in bond A? $ Round to the nearest cent. tA
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