Business, 09.10.2019 23:30 26262728

Apension fund manager decides to invest a total of at most $40 million in u. s. treasury bonds paying 4% annual interest and in mutual funds paying 7% annual interest. he plans to invest at least $5 million in bonds and at least $20 million in mutual funds. bonds have an initial fee of $100 per million dollars, while the fee for mutual funds is $200 per million. the fund manager is allowed to spend no more than $7000 on fees. how much should be invested in each to maximize annual interest? what is the maximum annual interest?

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