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24. You've worked out a line of credit arrangement that allows you to borrow up to $2.5 million at any time. The interest rate is

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24. You've worked out a line of credit arrangement that allows you to borrow up to $2.5 million at any time. The interest rate is 65 percent per month. In addition, 2 percent of the amount you borrow must be deposited in a non-interest-bearing account. Assume your lender uses compound interest and that you need $1.2 million today which you will repay in five months. How much interest will you pay? O $38.757 O $40,31 O $42103 O$44342 O $38,886

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