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please help! Suncoast Boats Inc. estimates that because of seasonal nature of its business, it will require an additional $2,000,000 of cash for 60 days.
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Suncoast Boats Inc. estimates that because of seasonal nature of its business, it will require an additional $2,000,000 of cash for 60 days. Suncoast can borrow & 88 annum regular interest rate loan with a $15,500 processing fee. A. Find the loan amount B. Find the interest amount C. Find other costs/fees D. Find period rate E. Bind m F. Find the annual percentage rate (APR) G. Find the effective annual cost (EAR) 1 Ear = [1 + period rate] m-1 = (1 + Costa)/(net_loan_Atm]m-1 where: costet_ loan amount a period rate Step by Step Solution
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