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What is the average financing cost per bike sold in 2009? Use 6.0% annual interest rate (0.5% per month) and a cost per bike of
- What is the average financing cost per bike sold in 2009? Use 6.0% annual interest rate (0.5% per month) and a cost per bike of $4,527 (this is the amount SSB needs to finance). With 172 cars sold for the year and inventory of 50 bikes, on average it takes a bike 3.5 months to be sold.
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
10th Edition
1260013820, 978-1260013825
