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You ve worked out a line of credit arrangement that allows you to borrow up to $ 8 0 million at any time. The interest

Youve worked out a line of credit arrangement that allows you to borrow up to $80 million at any time. The interest rate is .401 percent per month. In addition, 5 percent of the amount that you borrow must be deposited in a noninterest-bearing account. Assume that your bank uses compound interest on its line-of-credit loans.

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