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1. A business borrows $20 million for 30 days and another $20 million for three years plus 30 days. Assuming 7.0% interest rate and daily
1. A business borrows $20 million for 30 days and another $20 million for three years plus 30 days. Assuming 7.0% interest rate and daily compounding, calculate the loan payoff.
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Financial Management Principles And Applications
Authors: Arthur J. Keown
9th Edition
013033362X, 9780130333629
