The Excess/(Deficiency) of Cash in Quarter 4 of the Cash Budget is determined to be

$21,200 . If the minimum cash balance is $9,000 . Assuming there is an outstanding loan taken out at the beginning of Q1 of $14,000 with interest charged at 6% per year, how much loan principal can be paid down at the end of Q4?

Question 1Answer

a.

$7,200

b.

$11,360

c.

$840

d.

$12,200