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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 $500000.0 now

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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 $500000.0 now at an interest rate of 6.00% per year, compounded monthly, and the rate increases to 10.50%/yr, compounded monthly after 3.0 months, how much will the company owe at the end of 1 year

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