Investor Matt has $659,000 to invest in a CD and a mutual Fund. The CD yields 6.7% and the mutual fund yields an average of 5.2%. The mutual fund requires a minimum investment of $18,000, and Matt requires that at least 4 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. What is the maximum return? Enter O if no investment can be made satisfying the requirements. $. Round to the nearest cent.

Investor Matt has $659,000 to invest in a CD and a mutual Fund. The CD yields 6.7% and the mutual fund yields an average of 5.2%. The mutual fund requires a minimum investment of $18,000, and Matt requires that at least 4 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. What is the maximum return? Enter O if no investment can be made satisfying the requirements. $. Round to the nearest cent.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 3FPE

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