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The financing section of Grape, Inc:s cash budget looks like this: Financing: July August September Borrowings Repayments Interest 118,000 120,000 (270,000) Assume: interest is 2%
The financing section of Grape, Inc:s cash budget looks like this: Financing: July August September Borrowings Repayments Interest 118,000 120,000 (270,000) Assume: interest is 2% per month assume the company borrows money at the beginning of the month assume the company pays back loan at the end of the month if cash is available . enough cash is available in September to pay back interest and any loan:s How much interest will be repaid in September
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