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Brady and Sons uses accounts receivable as collateral to borrow money for operations and payroll when revenues are low. If the company borrows $300,000 now
Brady and Sons uses accounts receivable as collateral to borrow money for operations and payroll when revenues are low. If the company borrows $300,000 now at an interest rate of 12% per year compounded daily and the rate increases to 15% per year compounded daily after 7 months, how much will the company owe at the end of one year?
At the end of the year, the company will owe $
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