Math Problem Statement
You have $95,000 you would like to invest in three different stocks: MarkyB Inc., JohnJohn Ltd., and Garretts Spaghetti House. You would like to invest no more than $17,000 in Garretts Spaghetti House, and you want the amount you invest in MarkyB Inc., to be at least the amount invested in JohnJohn Ltd. and Garretts Spaghetti House combined. If MarkyB Inc. earns 17% annual interest, JohnJohn Ltd. earns 15% annual interest, and Garretts Spaghetti House earns 6% annual interest, how much money (in dollars) should you invest in each stock to maximize your annual interest earned? What is the maximum annual interest earned? You should invest $ into MarkyB Inc., $ into JohnJohn Ltd., and $ into Garretts Spaghetti House, which will give you give you maximum annual interest $ .
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Programming
Optimization
Inequalities
Algebra
Formulas
Total Interest = 0.17x_1 + 0.15x_2 + 0.06x_3
x_1 + x_2 + x_3 = 95,000
x_3 ≤ 17,000
x_1 ≥ x_2 + x_3
Theorems
Simplex Method
Linear Programming Theorems
Suitable Grade Level
College Level or Advanced High School
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