Solution-What is the maximum return

What is the maximum return

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An investor has $45,000 to invest in a CD and a mutual fund. The CD yields 4% and the mutual fund yields on average 5%. The mutual fund requires a minimum investment of $10,000 and the investor wants at least twice as much money invested in the CD as in the mutual fund. How much should be invested in the CD and how much in the mutual fund to maximize the return? What is the maximum return?

Reference no: EM131243850

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What is the maximum return

Reference no: EM131243850

Reference no: EM131243850

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