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K A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 6% annual interest and in mutual funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $10 million in mutual funds. Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest? The amount that should be invested in Treasury bonds is $ funds is $ million. million and the amount that should be invested in mutual

K A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 6% annual interest and in mutual funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $10 million in mutual funds. Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest? The amount that should be invested in Treasury bonds is $ funds is $ million. million and the amount that should be invested in mutual

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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A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 6% annual interest and in mutual funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $10 million in mutual funds. Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest? View an example Get more help. 8 20 F3 The amount that should be invested in Treasury bonds is $ funds is $ $million. S4 $ gog R F V F4 % 5 T F5 B 10 6 Y F6 H & 7 N F7 U J * 8 A M million and the amount that should be invested in mutual ( 9 K Clear all A O ) 0 A L F10 Check answer P V 7 + 11 #0 10 1
Transcribed Image Text:A pension fund manager decides to invest a total of at most $40 million in U.S. Treasury bonds paying 6% annual interest and in mutual funds paying 9% annual interest. He plans to invest at least $5 million in bonds and at least $10 million in mutual funds. Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is allowed to spend no more than $7000 on fees. How much should be invested in each to maximize annual interest? What is the maximum annual interest? View an example Get more help. 8 20 F3 The amount that should be invested in Treasury bonds is $ funds is $ $million. S4 $ gog R F V F4 % 5 T F5 B 10 6 Y F6 H & 7 N F7 U J * 8 A M million and the amount that should be invested in mutual ( 9 K Clear all A O ) 0 A L F10 Check answer P V 7 + 11 #0 10 1
The maximum annual interest is $
Transcribed Image Text:The maximum annual interest is $
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