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General Motors ( GM ) wants to increase investments in all - electric and autonomous vehicles. Suppose that GM plans to borrow $ 1 5
General Motors GM wants to increase investments in allelectric and autonomous vehicles. Suppose that GM plans to borrow $ billion from a group of investors. Each investor is able to invest $ million. Without an intermediary, GM would have to spend $ to find each investor. On the other hand, JP Morgan, an investment bank, can find potential investors for $per investor Suppose that GM hires JP Morgan to identify potential investors and agrees to pay $ per investor. In this contract, how much value did JP Morgan provide to GM
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