A small bank has $1,000,000 in new funds that must be allocated to various loan types, including home loans, personal loans, and auto loans. The annual rate of return for each is 7% for home loans, 12% for personal loans, and 9% for auto loans. The bank’s planning committee has determined that at least 40% of the new funds must be allocated to home loans, and the amount allocated to personal loans must not exceed 60% of the amount allocated to automobile loans. Create and solve a linear programming model in Excel to help the bank maximize the total annual return.

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