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Find the annual financing cost of a 45 day revolving credit agreement with a 0.5% commitment fee. Assume you borrow $397,575m at 5.66%. You can

Find the annual financing cost of a 45 day revolving credit agreement with a 0.5% commitment fee. Assume you borrow $397,575m at 5.66%. You can borrow up to $500,000.

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Correct Answer 6.7

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