The Pimco New York Municipal Bond Fund (PNF) and the Fidelity Spartan Mass Fund (FDMMX) are tax-exempt municipal bond funds. In 2003, the Pimco fund yielded 6% while the Fidelity fund yielded 5%. You would like to invest a total of up to $70,000 and earn at least $3,600 in interest in the coming year (based on the given yields). Draw the feasible region that shows how much money you can invest in each fund. Find the corner points of the region.
Let x be the invested sum into FDMMX in thousand dollars, and y be the invested sum into PNF in thousand dollars.

Question

The Pimco New York Municipal Bond Fund (PNF) and the Fidelity Spartan Mass Fund (FDMMX) are tax-exempt municipal bond funds. In 2003, the Pimco fund yielded 6% while the Fidelity fund yielded 5%. You would like to invest a total of up to $70,000 and earn at least $3,600 in interest in the coming year (based on the given yields). Draw the feasible region that shows how much money you can invest in each fund. Find the corner points of the region.  
Let x be the invested sum into FDMMX in thousand dollars, and  y be the invested sum into PNF in thousand dollars.

Quizplus · Accepted Answer

The Answer of The Pimco New York Municipal Bond Fund (PNF) and the Fidelity Spartan Mass Fund (FDMMX) are tax-exempt municipal bond funds. In 2003, the Pimco fund yielded 6% while the Fidelity fund yielded 5%. You would like to invest a total of up to $70,000 and earn at least $3,600 in interest in the coming year (based on the given yields). Draw the feasible region that shows how much money you can invest in each fund. Find the corner points of the region.  
Let x be the invested sum into FDMMX in thousand dollars, and  y be the invested sum into PNF in thousand dollars.