Finite Mathematics - Linear Programming - Simplex Method
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Karen Guarditlo has decided to invest a $100,000 inheritance in govcrfltflcflt securities that earn 7% per year, municipal bonds that earn 6% per year, and mutual funds that earn an average of 10% per year. She will spend at least $40,000 on government securities, and she wants at least half the inheritance 10 go to bonds and inualal funds. Governmeilt securities have an initial fee of 2%, municipal bonds have an initial fee of 1%, and mutual funds have an initial fee of 3%. Karen has $2400 available to pay initial fees How much should be invested in each way to maximize the jnterest yet meet the constraints? What is the maximum interest she can earn?
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The expert examines finite mathematics linear programming for the Simplex Method. A complete, neat and step-by-step solution is provided in the attached file.
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Formulation of the LPP
For maximum interest, let the investment in government securities be x, that ...
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