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Interest rate on deposits will generate the best profit

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Reference no: EM131089724

A bank estimates that the amount of money on deposit will be 1 million times the percentage rate of interest. For instance, if they pay 3% they will generate $3 million in deposits. If they can load all the money they take in at 10% interest, what interest rate on deposits will generate the best profit.

Reference no: EM131089724

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