Toyota is interested in borrowing $5 million for 90 days. Bank of America has quoted a rate
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Toyota is interested in borrowing $5 million for 90 days. Bank of America has quoted a rate that is 1.85 percent under the prime rate of 3.55 percent. Daiwa Bank is offering Toyota a rate that is 0.95 percent over the three-month LIBOR of 0.29 percent. Which is the better deal for Toyota, and what is the lower interest cost in dollars?
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781119795438
5th Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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