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Whalien Fish Co. requires an immediate additional working capital of $900,000. There are two possible choices: Bank A- Payment term: 90 days; Total interest:
Whalien Fish Co. requires an immediate additional working capital of $900,000. There are two possible choices: Bank A- Payment term: 90 days; Total interest: $25,350 Bank B- Payment term: 120 days; Total interest: $32,933 i) Calculate the effective interest rate of each source of financing. Determine the best option of financing for the company. ii) 4 (4 marks) (2 marks)
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A First Course In Probability
Authors: Sheldon Ross
9th Edition
978-9332519077, 9332519072
