Enabled: Tercer Examen Parcial $($i

You've worked out a line of credit arrangement that allows you to borrow up to $$2\mathrm{.}1$ million at any time. The interest rate is $\mathrm{.}72$ percent per month. In addition, $3$ percent of the amount you borrow must be deposited in a noninterest$-$bearing account. Assume your lender uses compound interest and that you need $$1\mathrm{.}3$ million today which you will repay in five months. How much interest will you pay?