A savings and loan association estimates that the amount of money on deposit will be 1 million
Question:
A savings and loan association estimates that the amount of money on deposit will be 1 million times the percentage rate of interest. For instance, a 4% interest rate will generate $4 million in deposits. If the savings and loan association can loan all the money it takes in at 10% interest, what interest rate on deposits generates the greatest profit?
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Let r be the percentage rate of interest r ...View the full answer
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Somshukla Chakraborty
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Related Book For 
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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