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Investor Matt has $83,000 to invest in a CD and a mutua The CD yields 4% and the mutual fund yields an average 8.5%. The mutual fund requires a minimum investment $10,000, and Matt requires that at least 2 times as much be invested in the CD as in the mutual fund. You must in these bonds to maximize his return

Investor Matt has $83,000 to invest in a CD and a mutua The CD yields 4% and the mutual fund yields an average 8.5%. The mutual fund requires a minimum investment $10,000, and Matt requires that at least 2 times as much be invested in the CD as in the mutual fund. You must in these bonds to maximize his return

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 Matt has $83,000 to invest in a CD and a mutual fund. The CD yields 4% and the mutual fund yields an average of 8.5%. The mutual fund requires a minimum investment of $10,000, and Matt requires that at least 2 times as much money be invested in the CD as in the mutual fund. You must invest in these bonds to maximize his return. This can be set up as a linear programming problem. Introduce the decision variables: X dollars invested in the CD = Y dollars invested in the mutual fund - Check all of the problem constraints. Note: The non-negative constraints are not included here. y>2 y 10000 x+y≤ 83000 x > 10000 0.04x +0.085y ≤ 83000 0.04x+0.085y > 10000 x+y 10000 y> 10000 x > 2y
Transcribed Image Text:Investor Matt has $83,000 to invest in a CD and a mutual fund. The CD yields 4% and the mutual fund yields an average of 8.5%. The mutual fund requires a minimum investment of $10,000, and Matt requires that at least 2 times as much money be invested in the CD as in the mutual fund. You must invest in these bonds to maximize his return. This can be set up as a linear programming problem. Introduce the decision variables: X dollars invested in the CD = Y dollars invested in the mutual fund - Check all of the problem constraints. Note: The non-negative constraints are not included here. y>2 y 10000 x+y≤ 83000 x > 10000 0.04x +0.085y ≤ 83000 0.04x+0.085y > 10000 x+y 10000 y> 10000 x > 2y
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