Assume that the amount of money deposited in a bank is proportional to the square of the
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Assume that the amount of money deposited in a bank is proportional to the square of the interest rate the bank pays on this money. Furthermore, the bank can reinvest this money at 12%. Find the interest rate the bank should pay to maximize profit. (Use the simple interest formula.)
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Let d be the amount deposited in the bank i be the inter...View the full answer
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