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Adirondack Savings Bank ( ASB ) has $ 1 million in new funds that must be allocated to home loans, personal loans, and automobile loans.

Adirondack Savings Bank (ASB) has $1 million 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 6% for home loans, 12% for personal loans, and 7% for automobile loans. The banks 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.

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