A pension fund manager decides to invest a total of at most $45 million in U. S. Treasury bonds paying 5% annual interest and in
mutual funds paying 7% annual interest. He plans to invest at least $5 million in bonds and at least $30 million in mutual funds.
Bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. The fund manager is
allowed to spend no more than $8000 on fees. How much should be invested in each to maximize annual interest? What is the
maximum annual interest?
million and the amount that should be invested in mutual funds is
3
The amount that should be invested in Treasury bonds is $
$1 million
0
0
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