Mutual fund to maximize the return

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Reference no: EM131821507

An investor has $60,000 to invest in a CD and a mutual fund. The CD yields 5% and the mutual fund yield: an average of 9%. The mutual fund requires a minimum investment of $10,000, and the investor requires that at least twice as much should be invested in CDs as in the mutual fund. How much should be invested in CDs and how much in the mutual fund to maximize the return? What is the maximum return?

Reference no: EM131821507

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