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Investor Dan has $636,000 to invest in a CD and a mutual fund. The CD yields 5.7% and the mutual fund yields an average of 8%. The mutual fund requires a minimum investment of $8,000, and Dan requires that at least 3 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 O if no investment can be made satisfying the requirements. $ Round to the nearest cent.

Investor Dan has $636,000 to invest in a CD and a mutual fund. The CD yields 5.7% and the mutual fund yields an average of 8%. The mutual fund requires a minimum investment of $8,000, and Dan requires that at least 3 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 O if no investment can be made satisfying the requirements. $ Round to the nearest cent.

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Investor Dan has $636,000 to invest in a CD and a mutual fund. The CD yields 5.7% and the mutual fund yields an average of 8%. The mutual fund requires a minimum investment of $8,000, and Dan requires that at least 3 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 O if no investment can be made satisfying the requirements. $ Round to the nearest cent. LA
Transcribed Image Text:Investor Dan has $636,000 to invest in a CD and a mutual fund. The CD yields 5.7% and the mutual fund yields an average of 8%. The mutual fund requires a minimum investment of $8,000, and Dan requires that at least 3 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 O if no investment can be made satisfying the requirements. $ Round to the nearest cent. LA
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