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Pre-Calculus Matrix word problem

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An investor has at most $70,000 to invest in government bonds, mutual funds, and money market. The average yields for the government bonds, mutual funds, and money market funds are 2%, 11%, and 9%. The investor's policy requires that the total amount invested in mutual and money market funds not exceed the amount invested in government bonds. How much should be invested in each type of investment in order to maximize the return? What is the maximum return in the first year? Government Bonds? Mutual Funds? Money Market?

Submitted: 12 months ago.
Category: Math Homework
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Expert:  guru2009 replied 12 months ago.

Welcome and Thanks for using Just Answer.

I am working on your question and will post the answer shortly.

Thanks.

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Expert:  guru2009 replied 12 months ago.

Hi

 

Since there are 3 variables in this problem, I will be solving this using Simplex method and provide you the simplex tableaus. Ok?

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Customer: replied 12 months ago.

Yes. Thank you.

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Expert:  guru2009 replied 12 months ago.

Ok, working on this ...

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Expert:  guru2009 replied 12 months ago.

Hi

 

Click here for the solution

 

 

I hope that helps. Let me know if you need any clarifications on my answers. I will be happy to provide them. Else, please give a rating for my answer.

 

Thanks.

 

guru2009, Master's Degree
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