Palmetto national savings and loan makes five kinds of loans
FINANCE (BANKING) Palmetto National Savings and Loan makes five kinds of loans. These loans, with the yearly interest rate charged to customers, are shown in the table below: Type of Loan Interest charges (percent)Commercial loans 15Home mortgage (first mortgage) 10Home improvements 13.6Home mortgage (second mortgage) 14Short-term revolving loan 18 The bank has $53 million in available funds. Its objective is to maximize yield on investment. […]
