Cameron owns a small business and is looking for a new bank to hold his business
deposits. he...
Social Studies, 11.12.2019 00:31 raiindrxp
Cameron owns a small business and is looking for a new bank to hold his business
deposits. he also wants to take out a loan to purchase some necessary equipment and
would prefer to get a loan from the bank that he deposits his money with. he expects to
keep an average of $25,000 on deposit and will need a loan of $250,000. after doing some
research, cameron created a table of the average interest rates various banks offered on
deposits and the average amount they charged on loans.
average interest on deposits
average interest on loans
bank 1 bank 2
3.0% 1.0%
6.5% 2.5%
bank 3 | bank 4
7.0% 5.5%
7.0% 5.0%
which bank should cameron patronize?
bank 1
bank 2
bank 3
bank 4
Answers: 2
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