Investments (Refer to in Section 5.1.) Kami has up to $25,000 to invest and can divide
Chapter 5, Problem 47(choose chapter or problem)
Investments (Refer to in Section 5.1.) Kami has up to $25,000 to invest and can divide it among three investments to maximize her return: (1) a money market account that pays 1.05% annually, (2) a mutual fund that pays 5% annually, and (3) a certificate of deposit (CD) that pays 1.66% annually. She does not want to invest more than $10,000 between the mutual fund and the CD. In addition, the amount invested in the CD cannot exceed the amount invested in the money market by more than $1500. (a) Determine how much Kami should put into each investment. (b) What is the maximum return? Source: moneyrates.com
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