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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.

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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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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