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Conway Savings and Loan pays 0.7% to checking account depositors and 1.6% to holders of certificates of deposit (CDs). 60% of their funding comes from
Conway Savings and Loan pays 0.7% to checking account depositors and 1.6% to holders of certificates of deposit (CDs). 60% of their funding comes from checking accounts, while 40% comes from CDs. CSL specializes in farm equipment loans that charge 6.5% interest. This past year, CSL did $563,000 in farm equipment loans. What was CSL's profit on these farm equipment loans, rounded to the nearest dollar?
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