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.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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.
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.
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