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Charming Paper Company sells to the 12 accounts listed here. Average Age of Account Balance Outstanding Over the Last Year 60,000 28 120,000 43 70,000

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Charming Paper Company sells to the 12 accounts listed here. Average Age of Account Balance Outstanding Over the Last Year 60,000 28 120,000 43 70,000 10 50,000 42 220.000 16 300.000 65 33 90,000 210,000 14 60,000 Financial Corporation will against account balances that have averaged 30 days account balances between 40 days and percent for account balances between days. or less; 45 days to pay their blis are not considered acceptable accounts for a loan. 41 customers that take over percent for The current prime rate is 8.50 percent, and Gapital charges 3.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could qualify

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