Math Problem Statement
YOu have $32,000 you would like to invest in two different stocks, Stock Boll and Stock Coff. The buying limit on Stock Coff is $12,600 and you want to spend at least four times as much money on Stock Boll as Stock Coff. If Stock Boll earns 6% annual interest and Stock Coff earns 4% 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 (in dollars)? You will earn a maximum total annual interest of $
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Inequalities
Optimization
Interest Calculation
Formulas
x + y = 32,000
y ≥ 4x
I = 0.04x + 0.06y
Theorems
Linear Programming
Suitable Grade Level
Grades 10-12
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