Investor Dan has $625,000 to invest in a CD and a mutual fund. The CD yields 4.3% and the mutual fund yields an average of 6.6%. The mutual fund requires a minimum investment of $18,000, and Dan requires that at least 5 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter 0 if no investment can be made satisfying the requirements.
Investor Dan has $625,000 to invest in a CD and a mutual fund. The CD yields 4.3% and the mutual fund yields an average of 6.6%. The mutual fund requires a minimum investment of $18,000, and Dan requires that at least 5 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter 0 if no investment can be made satisfying the requirements.
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 $625,000 to invest in a CD and a mutual fund. The CD yields 4.3% and the mutual fund yields an average of 6.6%. The mutual fund requires a minimum investment of $18,000, and Dan requires that at least 5 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter 0 if no investment can be made satisfying the requirements.
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