Monica deposits $150000 at the bank of the interest rate of 6.5% p.a.At the same time,this bank lends$150000to Charles at an interest rate of 8.75%p.a.
a find the simple interest that
i)Monica will get afer 1 year
ii)Charles will pay after 1 year
b suppose the bank lend to Charles the money that it receives from Monica's deposit(i.e$150000),and the operation cost for the bank is $1500 per year.Find the profit of the bank in such a transaction after a year