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Question 9 5 pts Yoo, Inc., has arranged a line of credit that allows it to borrow up to $56 million at any time. The
Question 9 5 pts Yoo, Inc., has arranged a line of credit that allows it to borrow up to $56 million at any time. The interest rate is .632 percent per month. Additionally, the company must deposit 6 percent of the amount borrowed in a non-interest bearing account. The bank uses compound interest on its line-of-credit loans. If the company needs $32 million for 5 months, how much will it pay in interest? $1,210,475.89 $1.089.428.30 $1,024,062.60 $896,054.78 $768,046.95
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