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Please show formulas and workings Toyota is interested in borrowing $5 million for 90 days. National Australia Bank has quoted a rate of 1.125 percent
Please show formulas and workings
Toyota is interested in borrowing $5 million for 90 days.
National Australia Bank has quoted a rate of 1.125 percent under the prime rate of 6.25 percent.
Daiwa Bank is offering Toyota a rate of 0.75 percent over the three-month LIBOR of 4.2 percent.
Which is the better deal for Toyota, and what is the lower interest cost in dollars?
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