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FIN Corporation has a line of credit arrangement to borrow up to 50 million baht at any time. The interest rate is 0.50 percent per

FIN Corporation has a line of credit arrangement to borrow up to 50 million baht at any time. The interest rate is 0.50 percent per month. The compensating balance is 5 percent of the amount borrowed. Your bank uses compound interest on the credit line. If you need 20 million baht today, how much interest will you pay if you repay in 3 months? (Do not round intermediate calculations and round your answer to two decimal places, e.g., 32.16. Do not include percentage sign.)

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