You have $37,000 you would like to invest in two different stocks, Stock Boll and Stock Coff. The buying mit on Stock Coff is $14,700 and you want to spend at least two unies as much money on Stock Boll as Stock Coff. If Stock Boll earns 9% annual interest and Stock Coff earns 4% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest earned? What is the maximum annual interest (in dollars)? You will earn a maximum total annual interest of $ 2713.33 X if you invest $24666.67 Xin Stock Boll and $ 12333.33 X in Stock Coff.
You have $37,000 you would like to invest in two different stocks, Stock Boll and Stock Coff. The buying mit on Stock Coff is $14,700 and you want to spend at least two unies as much money on Stock Boll as Stock Coff. If Stock Boll earns 9% annual interest and Stock Coff earns 4% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest earned? What is the maximum annual interest (in dollars)? You will earn a maximum total annual interest of $ 2713.33 X if you invest $24666.67 Xin Stock Boll and $ 12333.33 X in Stock Coff.
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 57SE: Three coworkers work for the same employer. Their jobs are warehouse manager, office manager, and...
Question
![You have $37,000 you would like to invest in two different stocks, Stock Boll and Stock Coff. The buying mit on Stock Coff is $14,700 and you want to spend at least two unies as
much money on Stock Boll as Stock Coff.
If Stock Boll earns 9% annual interest and Stock Coff earns 4% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest
earned? What is the maximum annual interest (in dollars)?
You will earn a maximum total annual interest of $ 2713.33
X if you invest $24666.67
Xin Stock Boll and $ 12333.33
X in Stock Coff.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fab665449-a51e-4bf1-94a6-15cb21da90a8%2Fa1a7d738-60da-403f-a36e-561ac62bd6d4%2Fxjy4vr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You have $37,000 you would like to invest in two different stocks, Stock Boll and Stock Coff. The buying mit on Stock Coff is $14,700 and you want to spend at least two unies as
much money on Stock Boll as Stock Coff.
If Stock Boll earns 9% annual interest and Stock Coff earns 4% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest
earned? What is the maximum annual interest (in dollars)?
You will earn a maximum total annual interest of $ 2713.33
X if you invest $24666.67
Xin Stock Boll and $ 12333.33
X in Stock Coff.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)
![Intermediate Algebra](https://www.bartleby.com/isbn_cover_images/9780998625720/9780998625720_smallCoverImage.gif)
![Elementary Algebra](https://www.bartleby.com/isbn_cover_images/9780998625713/9780998625713_smallCoverImage.jpg)
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)
![Intermediate Algebra](https://www.bartleby.com/isbn_cover_images/9780998625720/9780998625720_smallCoverImage.gif)
![Elementary Algebra](https://www.bartleby.com/isbn_cover_images/9780998625713/9780998625713_smallCoverImage.jpg)
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
![Algebra for College Students](https://www.bartleby.com/isbn_cover_images/9781285195780/9781285195780_smallCoverImage.gif)
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
![Intermediate Algebra](https://www.bartleby.com/isbn_cover_images/9781285195728/9781285195728_smallCoverImage.gif)
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
![Elementary Geometry For College Students, 7e](https://www.bartleby.com/isbn_cover_images/9781337614085/9781337614085_smallCoverImage.jpg)
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,