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Willy Caf Inc. needs to borrow $100,000 for a period of one year. There arethreepotential banks that agreed to lend the firm, The first is
Willy Caf Inc. needs to borrow $100,000 for a period of one year. There arethreepotential banks that agreed to lend the firm,
The first is a one-year loan fromBank One, the interest charged is 8% APR compounded daily, the second account, Max Saver account withBank of Australia, charging 8.10% APR compounded monthly. The third offer is fromBank of Sydney, charging 8.25% APR compounded annually.
As the CFO of Willy Caf Inc., which bank do you recommend to your firm?
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