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The company borrows funds, in increments of $1,000, and repays them on the last day of the month. It pays interest of 1.5 percent per

The company borrows funds, in increments of $1,000, and repays them on the last day of the month. It pays interest of 1.5 percent per month in cash on the last day of the month. For safety, the company desires to maintain a $50,000 cash cushion. The company pays its vendors on the last day of the month. Prepare a cash budget

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