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Exhibit 3.4 The following questions are based on this problem and accompanying Excel windows. A financial planner wants to design a portfolio of investments for a client. The client has $300,000 to invest and the planner has identified four investment options for the money. The following requirements have been placed on the planner. No more than 25% of the money in any one investment, at least one third should be invested in long-terin bonds which inature in seven or more years, and no more than 25% of the total money should be invested in Cor D) since they are riskier investments. The planner has developed the following LP model based on the data in this table and the requirements of the client. The objective is to maximize the total return of the portfolio Investment A B D Return 6.45% 7.10% 8.20% 9.00% Years to Maturity 9 8 5 & Rating 1-Excellent 2. Very Good 4-Fair 3-Good Let X = Dollars invested in A X2 = Dollars invested in B X - Dollars invested in C X4 - Dollars invested in D MAX: Subject to: .0645 X1 +.071 X2+,082 X3 + 09 X4 X1 + X2 + X3 + X4 s 300000 X15 75000 X2 s 75000 X; s 75000 X4 $ 75000 X1 + X2 + X4 2100000 X3 X4 s 75000 X1 X2 X3. X420 D ! 21 Bond 3 A 4 SI 6 D 7 Total Invested: Total Available: B Amount Investod SO SO SO SO SO $300,000 Maximum 25.00% S75,000 S75,000 $75,000 $75,000 Total: Return 6.45% 7.10% 8.20% 9.00% SO E G F 7+ years? (1-yes, 0-no) H Good or worse? (1-yes, 0-no) 0 0 1 1 Years to 2 Maturity 3 9 4 8 5 5 6 8 7 Total: 8 Required: 0 Rating 1-Excellent 2-Very Good 4-Fair 3-Good Total: Allowed: 1 1 1 $0 $100,000 $0 $75,000 Refer to Exhibit 3.4. Which cells are changing cells in the accompanying Excel spreadsheet? Selected Answer: b. B7:17