An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 8% and the mutual fund yields 6%. The mutual fund requires a minimum investment of $10,000, and the nvestor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund o maximize the eturn? What is the maximum return? o maximize income, the investor should place $ in CDs and $ C in the mutual fund. (Round to the nearest dollar as needed.)

An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 8% and the mutual fund yields 6%. The mutual fund requires a minimum investment of $10,000, and the nvestor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund o maximize the eturn? What is the maximum return? o maximize income, the investor should place $ in CDs and $ C in the mutual fund. (Round to the nearest dollar as needed.)

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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Question

An investor has $70,000 to invest in a CD and a mutual fund. The CD yields 8% and the mutual fund yields 6%. The mutual fund requires a minimum investment of $10,000, and the
investor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund to maximize the
return? What is the maximum return?
To maximize income, the investor should place $ in CDs and $ in the mutual fund. (Round to the nearest dollar as needed.)

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