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The employee credit union at State University is planning the allocation of funds for the coming year. The credit union makes four types of loans to its members. In addition, the credit union invests in risk-free securities to stabilize income.
The various revenue-producing investments together with annual rates of return are as follows.
Type of Loan/Investment Annual Rate of Return (%)Automobile loans 7Furniture loans 9Other secured loans 10Signature loans 11Risk-free securitie 8
The credit union will have $2,600,000 available for investment during the coming year. State laws and credit union policies impose the following restrictions on the composition of the loans and investments.
Problem 1: How should the $2,600,000 be allocated to each of the loan/investment alternatives to maximize total annual return?
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