Question: How do I solve this word problem? Mr. Tran has $24,000 to invest, some in bonds and the rest in stocks. He has decided that
How do I solve this word problem?
Mr. Tran has $24,000 to invest, some in bonds and the rest in stocks. He has decided that the money invested in bonds must be at least twice as much as that in stocks. But the money invested in bonds must not be greater than $18,000. If the bonds earn 6%, and the stocks earn 8%, how much money should he invest in each to maximize profit?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
