Mathematics, 26.08.2021 14:00, eliezer25

Patrick is a loan officer at a bank. He has $2,000,000 to lend out and has two loan programs.
His home equity loan is currently priced at 6% per
annum, and his unsecured personal loan is priced
at 14%. The bank president wants Patrick to earn
a rate of return of 12% on the $2,000,000 available.
How much should Patrick lend out at 6%?

Answers: 2

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Patrick is a loan officer at a bank. He has $2,000,000 to lend out and has two loan programs.