document.write( "Question 1093159: 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%? \n" ); document.write( "
Algebra.Com's Answer #707843 by richwmiller(17219) You can put this solution on YOUR website! Patrick should follow his conscience and quit since the bank is gauging the customers. \n" ); document.write( "otherwise \n" ); document.write( ".06h+.14u=.12*2000000 \n" ); document.write( "h+u=2000000 \n" ); document.write( " \n" ); document.write( " |