Question
Best Buy needs $500000 to payoff a supplier immediately: 2) Inventory Loan- lend $500K secured by inventory Annual Rate base on loan amount 10% Field
Best Buy needs $500000 to payoff a supplier immediately:
2) Inventory Loan- lend $500K secured by inventory
Annual Rate base on loan amount 10%
Field warehouse costs $1k/mth $1000 per month
Questions:
What is interest cost over 3 months?
What is ware house costs over 3 months?
What is the rate?
What is effetive rate?
Step by Step Solution
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Step: 1
To calculate the interest cost over 3 months for the inventory loan of 500000 with an annual interes...
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
