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 27%. Find the interest rate the bank should pay to maximize profit. (Use the simple interest formula.)

Question

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 27%. Find the interest rate the bank should pay to maximize profit. (Use the simple interest formula.) ​

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The Answer of 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 27%. Find the interest rate the bank should pay to maximize profit. (Use the simple interest formula.) ​

Assume That the Amount of Money Deposited in a Bank