What interest rate on deposits generates the greatest


A savings and loan association estimates that the amount of money on deposit will be 1,000,000 times the percentage rate of interest. For instance, a 2% interest rate will generate $2,000,000 in deposits. Suppose the savings and loan association can loan all the money it takes in at 4% interest. What interest rate on deposits generates the greatest profit?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: What interest rate on deposits generates the greatest
Reference No:- TGS02248972

Expected delivery within 24 Hours