Company Ais currently cash-constrained, and must make a decision about whether todelay payingone of its suppliers, or taking out a loan. They owe the supplier $12,245,and they can borrowthe money from Bank B, which has offered to lend the firm $12,245for 1months at an APR of 13% (compounded). The loan has a 1.54% loan origination fee.

What would be the cost for Company A if they decide to borrow from Bank B?

I know the answer is 37.31, but need help with steps