Investor Dan has $758,000 to invest in a CD and a mutual fund. The CD yields 4.2% and the mutual fund yields an average of 8.7%. The mutual fund requires a minimum investment of $17,000, and Dan requires that at least 5 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter O if no investment can be made satisfying the requirements. Round to the nearest cent. LA
Investor Dan has $758,000 to invest in a CD and a mutual fund. The CD yields 4.2% and the mutual fund yields an average of 8.7%. The mutual fund requires a minimum investment of $17,000, and Dan requires that at least 5 times as much money be invested in the CD as in the mutual fund. You must invest in order to maximize his return. How much should you invest in the CD? Enter O if no investment can be made satisfying the requirements. Round to the nearest cent. LA
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 8P
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