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You are responsible for deciding the terms of 5-year credit agreement with a bank. The first option is a 6% fixed rate for the next
You are responsible for deciding the terms of 5-year credit agreement with a bank. The first option is a 6% fixed rate for the next five years. The second option is a floating rate of 12-month SOFR 3.00% which resets every year. This rate closely follows the federal funds rate. For simplicity, assume no refinancing/restructing options
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
