Mr. Tran has $27,000 to invest, some in bonds and the rest in stocks. He has decided that the money invested in bonds must be at least twice as much as that in stocks. But the money invested in bonds must not be greater than $19,200. If the bonds earn 5%, and the stocks earn 8%, how much money should he invest in each to maximize his interest earned??
Mr. Tran has $27,000 to invest, some in bonds and the rest in stocks. He has decided that the money invested in bonds must be at least twice as much as that in stocks. But the money invested in bonds must not be greater than $19,200. If the bonds earn 5%, and the stocks earn 8%, how much money should he invest in each to maximize his interest earned??
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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Mr. Tran has $27,000 to invest, some in bonds and the rest in stocks. He has decided that the money invested in bonds must be at least twice as much as that in stocks. But the money invested in bonds must not be greater than $19,200. If the bonds earn 5%, and the stocks earn 8%, how much money should he invest in each to maximize his interest earned??
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