Jose is going to invest up to $23,000 in a savings account, bonds, or both. He wants to invest from $3000 to $13,000 in the savings account at 4% interest. The bonds will be insured up to $17,000, so Jose doesn't want to invest more than that amount in bonds which will earn 4 1/2%. What will be the maximum amount of interest that Jose could learn?
The accompanied excel file detail the use of Solver tool to find the ...
The solution provides detailed explanations including the Excel Solver program.