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Murfreesboro Savings and Loan pays 0.5% to checking account depositors and 1.9% to holders of certificates of deposit (CDs). 55% of their funding comes from
Murfreesboro Savings and Loan pays 0.5% to checking account depositors and 1.9% to holders of certificates of deposit (CDs). 55% of their funding comes from checking accounts, while 45% comes from CDs. CSL specializes in farm equipment loans that charge 5.6% interest. This past year, CSL did $600,000 in farm equipment loans. What was CSL's profit on these farm equipment loans, rounded to the nearest dollar?
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