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[answered] Michael has decided to invest $40,000 in three types of fun


I need help figuring out this problem using excel solver. I would really appreciate help with a screen shot of how to do the excel solver and what it looks like


Michael has decided to invest $40,000 in three types of funds. Fund A has projected an annual return of

 

8 percent, Fund B has projected an annual return of 10 percent, and Fund C has projected an annual

 

return of 9 percent. He has decided to invest no more than 30 percent of the total amount in Fund B and

 

no more than 40 percent of the total amount in Fund C.

 

a. Formulate a linear programming model that can be used to determine the amount of

 

investments Michael should allocate to each type of fund to maximize the total annual return. b. How much should be allocated to each type of fund? What is the total annual return? Provide

 

solver screenshot.

 

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