You have $94,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti House. You would like to invest no more than $18,000 in Garretts Spaghetti House, and you want the amount you invest in MarkyB Inc., to be at least the amount invested in JohnJohn Ltd. and Garretts Spaghetti House combined. If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 14% annual interest, and Garretts Spaghetti House earns 6% 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 earned? You should invest $ into MarkyB Inc., $ into JohnJohn Ltd., and $ Spaghetti House, which will give you give you maximum annual interest $ into Garretts
You have $94,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti House. You would like to invest no more than $18,000 in Garretts Spaghetti House, and you want the amount you invest in MarkyB Inc., to be at least the amount invested in JohnJohn Ltd. and Garretts Spaghetti House combined. If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 14% annual interest, and Garretts Spaghetti House earns 6% 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 earned? You should invest $ into MarkyB Inc., $ into JohnJohn Ltd., and $ Spaghetti House, which will give you give you maximum annual interest $ into Garretts
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:You have $94,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti
House. You would like to invest no more than $18,000 in Garretts Spaghetti House, and you want the amount you invest in
MarkyB Inc., to be at least the amount invested in JohnJohn Ltd. and Garretts Spaghetti House combined.
If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 14% annual interest, and Garretts Spaghetti House earns
6% 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 earned?
You should invest $
into MarkyB Inc., $
into JohnJohn Ltd., and $
Spaghetti House, which will give you give you maximum annual interest $
into Garretts
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