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You are working as a finance manager of a Toronto-based investment technology firm. Your company has $100,000,000 of excess cash and on Oct 28 2020
You are working as a finance manager of a Toronto-based investment technology firm. Your company has $100,000,000 of excess cash and on Oct 28 2020 you notice that Bank of Canada overnight money market financing rate is 0.23% (this is an annualized overnight rate). If you consider depositing your company's excess cash for 30 days in the money market financiang rate, calculate the interest income assuming no taxes and no tracsaction costs (Do not use a $ sign. If your answer is $1,234,567.78, enter 1234567.78). Numeric Response You are working as a finance manager of a Toronto-based investment technology firm. Your company has $100,000,000 of excess cash and on Oct 28 2020 you notice that Bank of Canada overnight money market financing rate is 0.23% (this is an annualized overnight rate). If you consider depositing your company's excess cash for 30 days in the money market financiang rate, calculate the interest income assuming no taxes and no tracsaction costs (Do not use a $ sign. If your answer is $1,234,567.78, enter 1234567.78). Numeric Response
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