Find a general description for the amounts invested

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Reference no: EM132217107

Question - A trust account client has $220,000 to be invested. The investment choices have current yields of 8%, 7% and 10%. Suppose that the investment goal is to earn interest of $16,600 and that risk factors make it prudent to invest some money in all three investments.

a) Find a general description for the amounts invested at the three rates. Include definitions of your variables, and the augmented matrix.

b) If $10,000 is invested at 10%, how much should be invested at each of the other rates? What if $30,000 is invested at 10%?

c) What is the minimum amount that should be invested at 7%, and in this case, how much should be invested at the other rates?

d) What is the maximum amount that should be invested at 7%, and in this case, how much should be invested at the other rates?

Reference no: EM132217107

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