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A bank expects to raise $37 million in new money if it pays a deposit rate of 6%,$81 million in new money if it pays

image text in transcribed A bank expects to raise $37 million in new money if it pays a deposit rate of 6%,$81 million in new money if it pays a deposit rate of 9%, and it can raise $136 million in new money if it pays a deposit rate of 15%. The bank expects to earn 9.5% on all money that it receives in new deposits. What is the marginal cost of deposits if this bank raises its deposit rate from 9% to 15% ? "Please type your answer as percentage and not as decimal (i.e. 5.2 and not 0.052). Do not type the % symbol

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