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can someone please help me with this managerial finance question thank you Yoo Incorporated, has arranged a line of credit that allows it to borrow
can someone please help me with this managerial finance question thank you
can someone please help me with this managerial finance question thank you
Yoo Incorporated, has arranged a line of credit that allows it to borrow up to $46 million at any time. The interest rate is .622 percent per month. Additionally, the company must deposit 4 percent of the amount borrowed in a non-interest bearing account. The bank uses compound interest on its line-of-credit loans. If the company needs $22 million for 7 months, how much will it pay in interest? Multiple Choice $1,129,560.75 $1,064,662.35 $1,016,604.68
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