document.write( "Question 1020138: Formulate but do not solve the following exercise as a linear programming problem.\r
\n" );
document.write( "\n" );
document.write( " Madison Finance has a total of $24 million earmarked for homeowner loans and auto loans, where x is homeowner loans in millions of dollars and y is auto loans in millions of dollars. On the average, homeowner loans have a 9% annual rate of return, whereas auto loans yield a 12% annual rate of return. Management has also stipulated that the total amount of homeowner loans should be greater than or equal to 4 times the total amount of automobile loans. Determine the total amount of loans of each type Madison should extend to each category to maximize its returns P in millions of dollars.\r
\n" );
document.write( "
\n" );
document.write( "
\n" );
document.write( "
\n" );
document.write( "\n" );
document.write( "Maximize P = subject to the constraints \r
\n" );
document.write( "\n" );
document.write( "total loans =
\n" );
document.write( "
\n" );
document.write( "distribution of loans =
\n" );
document.write( "
\n" );
document.write( " x ≥ 0
\n" );
document.write( " y ≥ 0
\n" );
document.write( " \n" );
document.write( "
Algebra.Com's Answer #636079 by solver91311(24713)![]() ![]() You can put this solution on YOUR website! \r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Maximize:\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Subject to:\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "John \n" ); document.write( " \n" ); document.write( "My calculator said it, I believe it, that settles it\r \n" ); document.write( "\n" ); document.write( " |