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Awash Bank (AB) has 40 million ETB in new funds that must be allocated tohome loans, personal loans, and automobile loans. The annual rates of return for the threetypes of loans are 7% for home loans, 12% for personal loans, and 9% for automobile loans.The bank’s planning committee has decided that at least 40% of the new funds must beallocated to home loans. In addition, the planning committee has specified that the amountallocated to personal loans cannot exceed 60% of the amount allocated to automobile loans. |
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Answer» Awash Bank (AB) has 40 MILLION ETB in new funds that must be allocated to home LOANS, personal loans, and automobile loans. The annual RATES of return for the three types of loans are 7% for home loans, 12% for personal loans, and 9% for automobile loans. The bank’s PLANNING committee has decided that at least 40% of the new funds must be allocated to home loans. In addition, the planning committee has specified that the amount allocated to personal loans cannot exceed 60% of the amount allocated to automobile loans. please make it as brilliant |
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