A finance company has a total of $25 million earmarked for homeowner and auto loans. On the average, homeowner loans have a 8% annual rate of return, whereas auto loans yield a 12% annual rate of return. Management has also stipulated that the total amount of homeowner loans should be greater than or equal to 4 times the total amount of automobile loans. Determine the total amount of loans of each type the company should extend to each category in order to maximize its returns.
$__________ million in homeowner loans, $ __________ million in auto loans
What are the optimal returns? (Round your answer to the nearest hundredth, if necessary).
$ __________ million
20;5;2.2
Mathematics
You might also like to view...
Evaluate the combination.C(40, 40)
A. 2 B. 1 C. 40! - 5 D. 40!
Mathematics
Write a variable expression to describe the situation.The length of a rectangle is 8 meters shorter than four times the width. Use l for the length and w for the width of the rectangle.
A. l = 4w - 8 B. l = 4w + 8 C. l = 8w - 4 D. l + w = 8
Mathematics
Multiply and simplify.
? 
A. 
B. 
C. 
D. 
Mathematics
Solve the problem.The number of non-text books read by college students ranges from 9 to 55. Using B as the variable, write an absolute value inequality that corresponds to this range.
A. 
? 32
B. 
? 23
C. 
? 9
D. 
? 46
Mathematics