James Howard
A Mathematician, a Different Kind of Mathematician, and a Statistician

I probably shouldn't watch Vikings while writing quizes

25 Jul 2015

Mr. Lothbrok has $10,000 to invest in two types of mutual funds, Normandy High-Yield Fund, and Normandy Equity Fund. The High-Yield fund gives an annual yield of 6%, while the Equity fund earns 10%. Mr. Lothbrok would like to invest at least $5000 in the High-Yield fund and at least $2000 in the Equity fund. How much money should he invest in each to maximize his annual Yield, and what is the maximum yield?