SOLUTION: This is a linear programming question. I have played around with the numbers to try and make a formula but I am stumped. The question is... Ms. Smith plans to invest up to $40,000

Question 111374: This is a linear programming question. I have played around with the numbers to try and make a formula but I am stumped. The question is...
Ms. Smith plans to invest up to $40,000 in corporate and municipal bonds. She doesn't want to invest less than $6000 or more than $22,000 in corporate bonds. She also does not want to invest more that $30,000 in municipal bonds. Corporate bonds earn 8% simple interest and municipal bonds earn 7 and a half % simple interest. How much should she invest to maximize income (interest)? What is the maximum income?
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
Since corporate bonds have a higher interest rate than munis she should invest as much as she can in corporates ($22,000.).
40-22=18k in munis
Maximum income=22000*.08+18000*.075=$3,110/yr
Ed

RELATED QUESTIONS
I'm in grade 10 math and have finished solving word problems using linear systems. We... (answered by ankor@dixie-net.com)

Dear Sir/Madam, I am confronted with the following problem: "The point (12,-16) is... (answered by longjonsilver)

I have a formula question.... m= c-ab Solve for a. Please try to respond quickly,I am... (answered by josgarithmetic)

I am studying for a college entrance exam and am stumped by this question. I tried to... (answered by drk,richwmiller)

I haven't done too bad with the word problems but this one has stumped me: The typical (answered by ankor@dixie-net.com,astein76)

I have to graph points on a graph with this linear programming problem: 16X-13Y=79 I... (answered by rfer)

Hi, I had a quick question about this linear equation. I must solve for x but I don't... (answered by josgarithmetic)

I'm selling toasters for $15 ea and it costs $55 to make them with a $4 labor cost. How... (answered by ankor@dixie-net.com)

This is a discussion question in my class. I have seen how a few other students have... (answered by stanbon)