Mathematics, 11.04.2020 07:55 person6764

The amount of money that customers deposit in a bank in savings accounts is directly proportional to the interest rate that the bank pays on that money. Suppose that a bank was able to turn around and loan out all the money deposited in its savings accounts at an interest rate of 23%. What interest rate should it pay on its savings accounts in order to maximize profit?

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The amount of money that customers deposit in a bank in savings accounts is directly proportional to...